Cintas Corporation $CTAS Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Cintas Corporation by 516.8% during the first quarter, owning over 854,000 shares valued at approximately $175.5 million.
• Cintas recently increased its quarterly dividend to $0.45, up from $0.39, reflecting a dividend yield of 0.9% and a payout ratio of 40.82%.
• Analysts generally hold a favorable view of Cintas, with a consensus target price of $224.54 and multiple upgrades, including from Goldman Sachs, which raised the price target to $257.00.

Voya Investment Management LLC boosted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 516.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 854,032 shares of the business services provider's stock after acquiring an additional 715,570 shares during the period. Voya Investment Management LLC owned 0.21% of Cintas worth $175,529,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in Cintas during the first quarter worth $27,000. Saudi Central Bank acquired a new position in Cintas during the first quarter worth $29,000. Stone House Investment Management LLC acquired a new position in Cintas during the first quarter worth $41,000. Resources Management Corp CT ADV acquired a new position in Cintas during the first quarter worth $41,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. The Goldman Sachs Group upped their price target on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Robert W. Baird upped their price target on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 price target on shares of Cintas in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. assumed coverage on Cintas in a research note on Monday, July 14th. They set an "overweight" rating and a $239.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Cintas presently has an average rating of "Hold" and a consensus target price of $224.54.

Cintas Stock Up 1.5%

Cintas stock opened at $204.50 on Friday. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The stock's fifty day simple moving average is $216.36 and its 200-day simple moving average is $212.82. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $82.41 billion, a P/E ratio of 46.37, a P/E/G ratio of 3.47 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share 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 for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the company earned $3.99 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, equities 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 issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.9%. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. Cintas's dividend payout ratio is currently 40.82%.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction 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 transaction, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. This represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martin Mucci bought 1,200 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director directly owned 2,621 shares of the company's stock, valued at $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by corporate insiders.

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.

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