Elevation Point Wealth Partners LLC Makes New $1.82 Million Investment in Cintas Corporation $CTAS

Key Points

• Elevation Point Wealth Partners initiated a $1.82 million position in Cintas during the second quarter by purchasing 10,726 shares. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in earnings per share and $2.91 billion in revenue, with revenue up 8.9% year over year.
• The company raised its quarterly dividend from $0.45 to $0.52 per share, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $212.31.

Elevation Point Wealth Partners LLC purchased a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,726 shares of the business services provider's stock, valued at approximately $1,824,000.

Several other large investors also recently made changes to their positions in the business. Nemes Rush Group LLC bought a new position in shares of Cintas in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of Cintas during the 4th quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cintas during the 4th quarter worth $26,000. Triumph Capital Management bought a new stake in shares of Cintas during the 3rd quarter worth $29,000. Finally, Camelot Portfolios LLC acquired a new position in shares of Cintas in the 4th quarter worth $26,000. Institutional investors own 63.46% of the company's stock.

Cintas Price Performance

Cintas stock opened at $203.79 on Monday. The firm has a market cap of $81.55 billion, a price-to-earnings ratio of 54.49, a P/E/G ratio of 3.29 and a beta of 0.91. The firm has a fifty day moving average price of $191.16 and a two-hundred day moving average price of $185.04. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

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

Cintas Increases Dividend

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

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent analyst reports. Truist Financial cut their price objective on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, June 15th. Weiss Ratings upgraded shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Bank of America raised shares of Cintas from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $214.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cintas currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.31.

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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