Ascent Group LLC Buys 1,608 Shares of Cintas Corporation $CTAS

Key Points

• Ascent Group LLC increased its stake in Cintas Corporation by 6.1% in Q1, now holding 28,126 shares valued at approximately $5.78 million.
• Cintas Corporation reported an earnings per share of $1.09 for the last quarter, exceeding analysts' expectations of $1.07, along with an 8% revenue growth year-over-year.
• The company announced a quarterly dividend increase to $0.45 per share, reflecting a boost from the previous $0.39, resulting in a 0.9% yield.

Ascent Group LLC increased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,126 shares of the business services provider's stock after purchasing an additional 1,608 shares during the period. Ascent Group LLC's holdings in Cintas were worth $5,781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. United Services Automobile Association purchased a new position in Cintas during the first quarter valued at $1,633,000. Caxton Associates LLP purchased a new position in Cintas during the first quarter valued at $2,273,000. Hamilton Capital LLC purchased a new position in Cintas during the first quarter valued at $241,000. Sciencast Management LP purchased a new position in Cintas during the first quarter valued at $2,918,000. Finally, Voleon Capital Management LP purchased a new position in Cintas during the first quarter valued at $2,231,000. 63.46% of the stock is currently owned by institutional investors.

Insider Transactions at Cintas

In other news, CEO Todd M. Schneider sold 17,301 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer owned 622,712 shares in the company, valued at approximately $137,557,080.80. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Mucci bought 1,200 shares of the stock in a transaction dated Monday, July 21st. The stock was purchased at an average price of $222.55 per share, with a total value of $267,060.00. Following the acquisition, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 target price on shares of Cintas in a research note on Thursday, August 21st. UBS Group raised their target price on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective for the company. Finally, Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $224.54.

Cintas Price Performance

Shares of NASDAQ:CTAS traded down $2.13 on Friday, reaching $202.37. The company's stock had a trading volume of 1,371,284 shares, compared to its average volume of 1,933,127. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The company has a market cap of $81.55 billion, a P/E ratio of 45.89, a PEG ratio of 3.53 and a beta of 1.01. The company has a 50-day simple moving average of $216.03 and a 200 day simple moving average of $212.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $3.99 EPS. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, equities research analysts anticipate that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a $0.45 dividend. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. Cintas's dividend payout ratio (DPR) is 40.82%.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.