Equitable Holdings Inc. Takes $1.60 Million Position in Cintas Corporation $CTAS

Key Points

• Equitable Holdings acquired 9,385 Cintas shares during the second quarter, representing a position worth approximately $1.60 million. Institutional investors collectively own 63.46% of Cintas.
• Cintas reported quarterly earnings of $1.29 per share, exceeding estimates of $1.24, 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.
• The company increased its quarterly dividend from $0.45 to $0.52 per share, equivalent to an annualized dividend of $2.08 and a 1.0% yield.

Equitable Holdings Inc. acquired a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,385 shares of the business services provider's stock, valued at approximately $1,596,000.

Several other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Cintas in the 2nd quarter valued at $4,520,425,000. Norges Bank acquired a new position in Cintas during the 4th quarter worth $923,672,000. Bank of New York Mellon Corp bought a new stake in Cintas during the second quarter valued at about $644,334,000. Legal & General Group Plc bought a new stake in Cintas during 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 owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. The Goldman Sachs Group reiterated a "buy" rating and issued a $231.00 price objective on shares of Cintas in a research note on Wednesday, July 15th. Argus upgraded Cintas to a "strong-buy" rating in a research note on Friday, July 17th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Robert W. Baird lifted their price target on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $212.31.

Cintas Stock Performance

NASDAQ CTAS opened at $204.18 on Friday. The company's fifty day moving average is $194.43 and its two-hundred day moving average is $185.51. Cintas Corporation has a 52-week low of $161.16 and a 52-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. The firm has a market capitalization of $81.71 billion, a price-to-earnings ratio of 54.59, a P/E/G ratio of 3.30 and a beta of 0.92.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating 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 business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts forecast that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The company 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 is a positive change from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas's payout ratio is currently 55.61%.

About Cintas

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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