Engineers Gate Manager LP Sells 90,577 Shares of Cintas Corporation $CTAS

Key Points

• Engineers Gate Manager LP reduced its Cintas stake by 93.7% in the second quarter, selling 90,577 shares and retaining 6,101 shares valued at approximately $1.04 million. Institutional investors and hedge funds collectively own 63.46% of Cintas.
• Cintas reported quarterly EPS of $1.29, exceeding estimates by $0.05, while revenue rose 8.9% year over year to $2.91 billion. The company also raised its quarterly dividend from $0.45 to $0.52 per share.
• Analysts maintain a generally positive outlook, with Cintas receiving a consensus “Moderate Buy” rating and an average price target of $212.31, compared with shares opening at $197.64.

Engineers Gate Manager LP cut its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 93.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,101 shares of the business services provider's stock after selling 90,577 shares during the period. Engineers Gate Manager LP's holdings in Cintas were worth $1,038,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cidel Asset Management Inc. acquired a new position in Cintas in the second quarter valued at approximately $208,000. Capital Analysts LLC lifted its position in shares of Cintas by 228.4% in the second quarter. Capital Analysts LLC now owns 1,790 shares of the business services provider's stock worth $304,000 after purchasing an additional 1,245 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Cintas by 10.2% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,334 shares of the business services provider's stock worth $227,000 after purchasing an additional 123 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Cintas by 23.9% during the second quarter. NewEdge Advisors LLC now owns 13,726 shares of the business services provider's stock worth $2,335,000 after purchasing an additional 2,647 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Cintas by 20.5% in the second quarter. IFP Advisors Inc now owns 14,287 shares of the business services provider's stock valued at $2,430,000 after purchasing an additional 2,435 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Down 0.2%

Shares of CTAS opened at $197.64 on Friday. The firm has a market cap of $79.19 billion, a P/E ratio of 52.84, a price-to-earnings-growth ratio of 3.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The firm's 50-day simple moving average is $201.91 and its 200 day simple moving average is $185.78.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $2.87 billion. During the same period last year, the business posted $1.09 earnings per share. The business'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. On average, analysts forecast 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 was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 14th. This is a boost from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. Cintas's dividend payout ratio (DPR) is presently 55.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTAS shares. Bank of America raised shares of Cintas from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and set a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Weiss Ratings raised Cintas from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 11th. Truist Financial decreased their price target on Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Monday, June 15th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Cintas in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Cintas presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.31.

Cintas Company Profile

Cintas Corporation is a provider of workplace products and services for businesses across North America. The company helps organizations manage employee appearance, workplace cleanliness, safety, and compliance through a range of recurring service programs.

Its offerings include uniform rental and workwear, branded apparel, entrance mats, restroom supplies, and facility cleaning services. Cintas also provides first-aid and safety products, training, and fire protection services, including inspection and maintenance programs for fire extinguishers, sprinkler systems, alarms, and related equipment.

Headquartered in Mason, Ohio, Cintas traces its roots to a family-operated industrial laundry business established by Richard T.

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