Cintas Corporation $CTAS Stake Lowered by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in Cintas Corporation by 38.2%, owning 434,573 shares, valued at approximately $96.85 million after selling 268,483 shares in the 2nd quarter.
• Cintas recently reported a quarterly earnings per share (EPS) of $1.09, surpassing the consensus estimate and showing a revenue growth of 8.0% year-over-year, amounting to $2.67 billion.
• The company has increased its quarterly dividend from $0.39 to $0.45, signaling a commitment to returning value to shareholders with a current dividend yield of 0.9%.

Assenagon Asset Management S.A. reduced its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 38.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 434,573 shares of the business services provider's stock after selling 268,483 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.11% of Cintas worth $96,853,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. IFM Investors Pty Ltd boosted its position in shares of Cintas by 5.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 70,775 shares of the business services provider's stock valued at $15,774,000 after purchasing an additional 3,466 shares during the period. Grove Bank & Trust boosted its position in shares of Cintas by 26.0% in the 2nd quarter. Grove Bank & Trust now owns 484 shares of the business services provider's stock valued at $108,000 after purchasing an additional 100 shares during the period. Moody National Bank Trust Division acquired a new stake in shares of Cintas in the 2nd quarter valued at about $202,000. Rockland Trust Co. boosted its position in shares of Cintas by 5.4% in the 2nd quarter. Rockland Trust Co. now owns 1,575 shares of the business services provider's stock valued at $351,000 after purchasing an additional 80 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in shares of Cintas by 0.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 54,228 shares of the business services provider's stock valued at $12,086,000 after purchasing an additional 266 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other news, Director Martin Mucci acquired 1,200 shares of the business's stock in a transaction on Monday, July 21st. The shares were purchased at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the purchase, the director directly owned 2,621 shares of the company's stock, valued at $583,303.55. This represents a 84.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the sale, the director 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. 14.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTAS. Morgan Stanley upped their target price on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. UBS Group increased their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group increased their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $224.54.

Cintas Trading Down 1.0%

Shares of NASDAQ:CTAS traded down $2.04 during midday trading on Tuesday, reaching $200.55. The company's stock had a trading volume of 1,143,697 shares, compared to its average volume of 1,740,658. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24. The business has a 50 day moving average price of $214.09 and a 200 day moving average price of $212.73. The firm has a market cap of $80.82 billion, a price-to-earnings ratio of 45.50, a price-to-earnings-growth ratio of 3.45 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last released 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. 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 analysts' expectations of $2.63 billion. During the same quarter in the previous year, the firm posted $3.99 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Research analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.9%. Cintas's payout ratio is currently 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.