Northwest & Ethical Investments L.P. Has $2.08 Million Holdings in Cintas Corporation $CTAS

Key Points

• Northwest & Ethical Investments L.P. boosted its stake in Cintas Corporation by 42.0%, purchasing an additional 2,996 shares in the first quarter, bringing its total holdings to 10,133 shares valued at approximately $2.08 million.
• Cintas recently announced a quarterly dividend increase to $0.45 per share, up from the previous $0.39, representing an annualized yield of 0.8%.
• Goldman Sachs raised its price target for Cintas shares from $233.00 to $257.00 with a "buy" rating, indicating strong analyst support for the stock's upward potential.

Northwest & Ethical Investments L.P. raised its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 42.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,133 shares of the business services provider's stock after purchasing an additional 2,996 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Cintas were worth $2,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. raised its stake in shares of Cintas by 6.2% during the 1st quarter. Raymond James Financial Inc. now owns 559,772 shares of the business services provider's stock worth $115,050,000 after purchasing an additional 32,774 shares in the last quarter. Progressive Investment Management Corp purchased a new stake in shares of Cintas during the 1st quarter worth about $1,837,000. Nations Financial Group Inc. IA ADV raised its stake in shares of Cintas by 1.8% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 25,749 shares of the business services provider's stock worth $5,292,000 after purchasing an additional 455 shares in the last quarter. Ethic Inc. raised its stake in shares of Cintas by 6.1% during the 1st quarter. Ethic Inc. now owns 68,233 shares of the business services provider's stock worth $14,184,000 after purchasing an additional 3,942 shares in the last quarter. Finally, Element Capital Management LLC purchased a new stake in shares of Cintas during the 1st quarter worth about $2,738,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Martin Mucci acquired 1,200 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were bought at an average price of $222.55 per share, with a total value of $267,060.00. Following the acquisition, the director owned 2,621 shares of the company's stock, valued at $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the sale, the director directly owned 21,945 shares in the company, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Analyst Ratings Changes

CTAS has been the subject of a number of recent research reports. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research note on Thursday, May 1st. Morgan Stanley raised their price objective on 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 reissued a "sector perform" rating and issued a $240.00 price objective on shares of Cintas in a research note on Thursday. JPMorgan Chase & Co. began coverage on Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $224.54.

Cintas Stock Performance

NASDAQ CTAS traded down $0.52 during trading on Friday, hitting $215.59. The company's stock had a trading volume of 1,448,772 shares, compared to its average volume of 1,375,107. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average price of $220.16 and a 200 day moving average price of $212.69. The firm has a market cap of $86.88 billion, a P/E ratio of 48.89, a price-to-earnings-growth ratio of 3.72 and a beta of 1.03. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

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

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 0.8%. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio (DPR) is presently 40.82%.

Cintas Company 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.