Scientech Research LLC Acquires 2,343 Shares of Cintas Corporation $CTAS

Key Points

• Scientech Research LLC increased its holdings in Cintas Corporation by 50.9% in Q1, now owning 6,949 shares valued at approximately $1.4 million.
• Multiple institutional investors, including Nuveen LLC and GAMMA Investing LLC, significantly boosted their stakes in Cintas, indicating strong institutional confidence in the company.
• Cintas recently announced a quarterly dividend increase from $0.39 to $0.45 per share, with a yield of 0.9% and a payout ratio of 40.82%.

Scientech Research LLC boosted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 50.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,949 shares of the business services provider's stock after purchasing an additional 2,343 shares during the period. Scientech Research LLC's holdings in Cintas were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CTAS. Nuveen LLC bought a new position in Cintas in the first quarter valued at $1,877,760,000. GAMMA Investing LLC grew its position in 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. Caisse DE Depot ET Placement DU Quebec grew its position in 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. Vanguard Group Inc. grew its position in Cintas by 1.3% in the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock valued at $7,781,223,000 after purchasing an additional 491,307 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Cintas by 20.1% in the first quarter. JPMorgan Chase & Co. now owns 2,585,024 shares of the business services provider's stock valued at $531,300,000 after purchasing an additional 432,980 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Transactions at Cintas

In related 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 transaction of $3,821,790.90. Following the transaction, the chief executive officer directly owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Mucci purchased 1,200 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTAS shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 target price on shares of Cintas in a research report on Thursday, August 21st. Morgan Stanley increased their price target 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. Robert W. Baird increased their price target on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. began coverage on shares of Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $224.54.

Cintas Stock Performance

Shares of NASDAQ CTAS traded down $0.67 during mid-day trading on Wednesday, reaching $201.40. 2,003,512 shares of the company were exchanged, compared to its average volume of 1,721,274. The company's 50-day simple moving average is $216.93 and its 200-day simple moving average is $212.89. 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 stock has a market capitalization of $81.16 billion, a P/E ratio of 45.67, a P/E/G ratio of 3.50 and a beta of 1.01. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last posted 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. The company had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. Cintas's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.99 EPS. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

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