Empowered Funds LLC Has $4.45 Million Stake in Cintas Corporation $CTAS

Key Points

• Empowered Funds LLC reduced its stake in Cintas Corporation by 12.1% in the first quarter, following a sale of 2,980 shares, bringing its total holdings to 21,654 shares valued at approximately $4.45 million.
• Cintas reported a quarterly EPS of $1.09, exceeding analyst estimates of $1.07, and had revenue of $2.67 billion, up 8.0% year-over-year.
• The company announced a quarterly dividend increase to $0.45 per share, representing a yield of 0.9%, with the ex-dividend date set for August 15th.

Empowered Funds LLC lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,654 shares of the business services provider's stock after selling 2,980 shares during the period. Empowered Funds LLC's holdings in Cintas were worth $4,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC increased its stake in Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock worth $258,000 after acquiring an additional 47 shares during the period. Oarsman Capital Inc. raised its stake in Cintas by 3.9% in the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock valued at $272,000 after purchasing an additional 49 shares in the last quarter. Truvestments Capital LLC lifted its position in Cintas by 17.4% during the first quarter. Truvestments Capital LLC now owns 338 shares of the business services provider's stock worth $69,000 after purchasing an additional 50 shares during the period. Kathmere Capital Management LLC grew its stake in Cintas by 4.1% during the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock worth $266,000 after buying an additional 51 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in Cintas by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock valued at $265,000 after buying an additional 51 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Martin Mucci bought 1,200 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director directly owned 2,621 shares in the company, valued at $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This trade represents a 2.70% 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.

Analysts Set New Price Targets

Several analysts recently issued reports on CTAS shares. JPMorgan Chase & Co. began coverage on shares of Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price target on the stock. Robert W. Baird raised their target price on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. UBS Group lifted their price target on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. The Goldman Sachs Group upped their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley raised their price objective on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note 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 issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $224.54.

Cintas Trading Down 0.1%

CTAS stock traded down $0.13 during midday trading on Tuesday, hitting $199.58. The stock had a trading volume of 970,253 shares, compared to its average volume of 1,716,265. 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 firm has a market cap of $80.43 billion, a P/E ratio of 45.22, a price-to-earnings-growth ratio of 3.49 and a beta of 1.01. The business has a fifty day moving average price of $215.68 and a two-hundred day moving average price of $212.86. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24.

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

Cintas Increases Dividend

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