Cintas Corporation $CTAS Position Trimmed by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies LLC reduced its holdings in Cintas Corporation by 9.1% during the second quarter, owning 19,533 shares valued at approximately $4.38 million.
• Director Martin Mucci purchased 1,200 shares at an average cost of $222.55 per share, marking an 84.45% increase in his ownership of Cintas stock.
• Cintas recently announced a quarterly dividend of $0.45 per share, up from the previous $0.39, indicating a positive change in its dividend policy.

Insight Wealth Strategies LLC lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,533 shares of the business services provider's stock after selling 1,946 shares during the quarter. Insight Wealth Strategies LLC's holdings in Cintas were worth $4,382,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CTAS. Nuveen LLC bought a new stake in Cintas during the first quarter worth approximately $1,877,760,000. GAMMA Investing LLC raised its stake in shares of Cintas by 19,644.3% in the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after purchasing an additional 2,251,629 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Cintas by 516.8% in the first quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider's stock valued at $175,529,000 after purchasing an additional 715,570 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Cintas by 169.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider's stock valued at $187,235,000 after purchasing an additional 573,151 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Cintas by 1.3% during the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after acquiring an additional 491,307 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

CTAS has been the topic of several research analyst reports. Robert W. Baird increased their target price on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Morgan Stanley raised their target price on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 target price on shares of Cintas in a research report on Thursday, August 21st. Finally, UBS Group lifted their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $224.54.

Cintas Price Performance

Cintas stock opened at $202.37 on Friday. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The stock has a fifty day moving average of $216.03 and a 200-day moving average of $212.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The stock has a market capitalization of $81.55 billion, a P/E ratio of 45.89, a price-to-earnings-growth ratio of 3.53 and a beta of 1.01.

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

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio is currently 40.82%.

About Cintas

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.

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