Cintas Corporation $CTAS Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its position in Cintas Corporation by 5.7%, selling 4,862 shares, leaving them with 80,505 shares valued at $16.5 million at the end of the first quarter.
• Cintas recently reported earnings per share of $1.09, exceeding expectations of $1.07, with revenue reaching $2.67 billion compared to analyst estimates of $2.63 billion, marking an 8.0% year-over-year increase.
• The company announced a quarterly dividend increase from $0.39 to $0.45 per share, set to be paid on September 15th, reflecting a 0.8% dividend yield.

HighTower Advisors LLC lessened its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,505 shares of the business services provider's stock after selling 4,862 shares during the quarter. HighTower Advisors LLC's holdings in Cintas were worth $16,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in Cintas by 646.4% during the 1st 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 during the last quarter. Washington Trust Advisors Inc. acquired a new stake in Cintas in the 1st quarter valued at about $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cintas in the first quarter valued at $46,000. Wellington Shields & Co. LLC acquired a new position in Cintas in the 1st quarter valued at about $51,000. Finally, Olde Wealth Management LLC purchased a new stake in Cintas during the 1st quarter worth approximately $55,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Cintas from $233.00 to $257.00 and gave the company 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 upped their target price for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. Robert W. Baird raised their target price on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. UBS Group upped their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, 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 report on Friday, July 18th. 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 given a Sell rating to the company. According to MarketBeat.com, Cintas has a consensus rating of "Hold" and an average target price of $224.54.

Insider Activity

In related news, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction dated Monday, July 28th. The stock was 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 in the company, valued at approximately $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the sale, the director directly 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 disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Price Performance

Shares of CTAS stock traded up $0.06 during trading hours on Wednesday, hitting $216.49. The company's stock had a trading volume of 604,452 shares, compared to its average volume of 1,678,125. 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 business has a fifty day moving average of $220.53 and a 200-day moving average of $212.33. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The stock has a market cap of $87.24 billion, a price-to-earnings ratio of 49.10, a P/E/G ratio of 3.69 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, beating 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 firm had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the firm earned $3.99 EPS. Cintas's quarterly 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 research analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is a positive change from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. Cintas's 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.