Congress Asset Management Co. Sells 23,959 Shares of Cintas Corporation $CTAS

Key Points

• Congress Asset Management Co. reduced its stake in Cintas Corporation by 3.0%, selling 23,959 shares and now holding 780,515 shares valued at approximately $173.95 million.
• Cintas reported $1.20 EPS for the last quarter, exceeding expectations, with revenues of $2.72 billion, marking an 8.7% year-over-year increase.
• The company announced a dividend increase to $0.45 per share from $0.39, reflecting a 0.9% yield based on a payout ratio of 40.82%.

Congress Asset Management Co. decreased its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 780,515 shares of the business services provider's stock after selling 23,959 shares during the period. Cintas makes up about 1.2% of Congress Asset Management Co.'s holdings, making the stock its 18th largest holding. Congress Asset Management Co. owned 0.19% of Cintas worth $173,953,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTAS. WPG Advisers LLC bought a new stake in Cintas during the first quarter valued at $27,000. Saudi Central Bank purchased a new stake in Cintas during the first quarter valued at about $29,000. Stone House Investment Management LLC purchased a new stake in Cintas during the first quarter valued at about $41,000. Resources Management Corp CT ADV purchased a new stake in Cintas during the first quarter valued at about $41,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its position 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 valued at $43,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Cintas Stock Up 1.0%

CTAS opened at $202.05 on Friday. The company has a market cap of $81.42 billion, a P/E ratio of 44.80, a P/E/G ratio of 3.46 and a beta of 1.01. The business's 50-day moving average price is $213.16 and its 200-day moving average price is $212.57. The company has a current ratio of 2.24, a quick ratio of 1.82 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, equities analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. Cintas's payout ratio is 40.82%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CTAS shares. Royal Bank Of Canada lowered their price target on Cintas from $240.00 to $206.00 and set a "sector perform" rating on the stock in a research report on Thursday. The Goldman Sachs Group raised their price target on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lowered their price target on Cintas from $246.00 to $230.00 and set an "overweight" rating on the stock in a research report on Thursday. Morgan Stanley raised their price target on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company lowered their price target on Cintas from $221.00 to $218.00 and set an "equal weight" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $222.75.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd M. Schneider sold 17,301 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.90% of the stock is owned by insiders.

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.

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