Cintas Corporation $CTAS Position Trimmed by Gradient Investments LLC

Key Points

• Gradient Investments cut its Cintas stake by 10.9% in the third quarter, selling 13,757 shares and retaining 113,008 shares valued at approximately $22.0 million. Institutional investors collectively own 63.46% of CTAS.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $216.08; several firms recently raised their targets.
• Cintas exceeded quarterly expectations, reporting $1.39 EPS and $3.01 billion in revenue, while revenue grew 10.9% year over year. The company also increased its quarterly dividend to $0.52 per share, or a 1.0% annualized yield.

Gradient Investments LLC lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 113,008 shares of the business services provider's stock after selling 13,757 shares during the period. Gradient Investments LLC's holdings in Cintas were worth $22,043,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC boosted its position in shares of Cintas by 89.7% in the third quarter. Avidian Wealth Enterprises LLC now owns 5,933 shares of the business services provider's stock worth $1,157,000 after purchasing an additional 2,805 shares during the period. Plan A Wealth LLC boosted its holdings in Cintas by 8.1% in the 3rd quarter. Plan A Wealth LLC now owns 1,375 shares of the business services provider's stock worth $268,000 after buying an additional 103 shares during the period. Toth Financial Advisory Corp raised its holdings in Cintas by 85.8% during the third quarter. Toth Financial Advisory Corp now owns 4,830 shares of the business services provider's stock valued at $940,000 after acquiring an additional 2,231 shares during the period. Elevation Wealth Partners LLC boosted its stake in shares of Cintas by 70.6% in the third quarter. Elevation Wealth Partners LLC now owns 389 shares of the business services provider's stock worth $76,000 after acquiring an additional 161 shares during the period. Finally, North Point Portfolio Managers Corp OH purchased a new stake in shares of Cintas during the third quarter worth about $56,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the topic of a number of research analyst reports. Argus boosted their price target on Cintas from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Tuesday, September 29th. Truist Financial upped their target price on shares of Cintas from $225.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. Robert W. Baird set a $222.00 price target on shares of Cintas and gave the company an "outperform" rating in a report on Thursday, September 24th. Wells Fargo & Company reissued an "overweight" rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Finally, UBS Group reaffirmed a "buy" rating and issued a $235.00 target price (up from $230.00) on shares of Cintas in a report on Thursday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.08.

Cintas Price Performance

CTAS stock traded up $3.01 during trading on Thursday, hitting $200.20. 358,582 shares of the company's stock traded hands, compared to its average volume of 2,125,156. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The stock has a market capitalization of $80.22 billion, a price-to-earnings ratio of 39.52, a P/E/G ratio of 3.11 and a beta of 0.92. The business has a fifty day simple moving average of $200.50 and a 200 day simple moving average of $185.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same period in the prior year, the company earned $1.20 EPS. The business's revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, research analysts expect that Cintas Corporation will post 5.52 EPS for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Cintas's previous quarterly dividend of $0.45. Cintas's dividend payout ratio is 41.03%.

About Cintas

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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