Element Capital Management LLC Buys Shares of 13,321 Cintas Corporation $CTAS

Key Points

• Element Capital Management LLC acquired 13,321 shares of Cintas Corporation, valued at around $2.7 million, highlighting institutional interest in the company.
• Cintas recently announced a quarterly dividend increase from $0.39 to $0.45 per share, effective September 15, reflecting a payout ratio of 35.37%.
• Cintas's quarterly earnings report showed an EPS of $1.09, surpassing estimates and demonstrating an 8% increase in revenue year-over-year.

Element Capital Management LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 13,321 shares of the business services provider's stock, valued at approximately $2,738,000.

Other institutional investors also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in shares of Cintas during the 1st quarter worth $41,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of 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 in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Cintas during the 1st quarter worth $46,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Cintas during the 1st quarter worth $46,000. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Cintas during the 1st quarter worth $51,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the transaction, the director directly owned 21,945 shares in the company, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Mucci bought 1,200 shares of Cintas stock in a transaction dated Monday, July 21st. The shares were acquired at an average price of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTAS. Robert W. Baird raised their target price on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. The Goldman Sachs Group raised their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. JPMorgan Chase & Co. began coverage on Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price target for the company. Finally, Morgan Stanley boosted their price target on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $224.54.

Cintas Stock Up 1.0%

NASDAQ:CTAS traded up $2.15 during trading hours on Tuesday, hitting $216.43. The stock had a trading volume of 1,640,650 shares, compared to its average volume of 1,678,787. The company has a current ratio of 2.09, a quick ratio of 1.82 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 simple moving average of $220.65 and a two-hundred day simple moving average of $212.30. The company has a market cap of $87.22 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 3.73 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. Cintas's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.45 per share. This is an increase from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. Cintas's dividend payout ratio (DPR) is currently 40.82%.

Cintas Company 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.