Cintas Corporation $CTAS Shares Sold by Van ECK Associates Corp

Key Points

• Van ECK Associates cut its Cintas position by 14.3% in the second quarter, selling 12,872 shares and retaining 76,889 shares valued at approximately $13.1 million. Institutional investors collectively own 63.46% of CTAS.
• Analyst sentiment remains positive, with Cintas carrying a consensus “Moderate Buy” rating and an average price target of $212.31; several firms recently raised their ratings or targets.
• Cintas beat quarterly expectations with EPS of $1.29 and revenue of $2.91 billion, while revenue increased 8.9% year over year. The company also raised its quarterly dividend from $0.45 to $0.52 per share, equivalent to a 1.0% yield.

Van ECK Associates Corp trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 14.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,889 shares of the business services provider's stock after selling 12,872 shares during the quarter. Van ECK Associates Corp's holdings in Cintas were worth $13,077,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nemes Rush Group LLC purchased a new position in Cintas during the 4th quarter valued at about $25,000. First United Bank & Trust acquired a new position in Cintas during the first quarter worth about $25,000. Whipplewood Advisors LLC lifted its holdings in shares of Cintas by 1,712.5% in the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider's stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Swiss RE Ltd. purchased a new stake in shares of Cintas in the fourth quarter valued at about $25,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTAS. Royal Bank Of Canada reissued a "sector perform" rating and set a $206.00 price objective on shares of Cintas in a research note on Thursday, July 16th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Argus upgraded Cintas to a "strong-buy" rating in a report on Friday, July 17th. Bank of America raised Cintas from a "neutral" rating to a "buy" rating and raised their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Finally, Weiss Ratings raised Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Moderate Buy" and an average price target of $212.31.

Cintas Stock Performance

NASDAQ:CTAS opened at $201.79 on Tuesday. The firm has a 50 day simple moving average of $195.08 and a 200-day simple moving average of $185.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a market cap of $80.75 billion, a PE ratio of 53.95, a P/E/G ratio of 3.30 and a beta of 0.91. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas's revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts expect that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a positive change from Cintas's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. Cintas's payout ratio is 55.61%.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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