Corient Private Wealth LP Takes Position in Cintas Corporation $CTAS

Key Points

• Corient Private Wealth LP purchased 231,517 Cintas shares worth approximately $39.4 million, giving it a 0.06% stake. Institutional investors collectively own 63.46% of the company.
• Cintas reported quarterly earnings of $1.29 per share, beating estimates by $0.05, while revenue rose 8.9% year over year to $2.91 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $212.31.
• Cintas increased its quarterly dividend to $0.52 per share, representing an annualized payout of $2.08 and a 1.0% yield.

Corient Private Wealth LP purchased a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 231,517 shares of the business services provider's stock, valued at approximately $39,377,000. Corient Private Wealth LP owned about 0.06% of Cintas at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CTAS. BlackRock Inc. purchased a new position in Cintas in the 2nd quarter valued at $4,520,425,000. Norges Bank purchased a new stake in shares of Cintas during the fourth quarter worth $923,672,000. Bank of New York Mellon Corp purchased a new stake in shares of Cintas during the second quarter worth $644,334,000. Legal & General Group Plc acquired a new stake in shares of Cintas in the second quarter valued at about $386,159,000. Finally, Bank of America Corp DE acquired a new stake in shares of Cintas in the second quarter valued at about $233,111,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CTAS shares. Weiss Ratings upgraded shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Truist Financial decreased their target price on shares of Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Monday, June 15th. Wells Fargo & Company restated an "overweight" rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Argus upgraded Cintas to a "strong-buy" rating in a research report on Friday, July 17th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $212.31.

Cintas Price Performance

Cintas stock opened at $204.15 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $193.76 and a 200 day moving average price of $185.38. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The stock has a market cap of $81.69 billion, a P/E ratio of 54.59, a PEG ratio of 3.32 and a beta of 0.92.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The company 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Sell-side analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

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