Federation des caisses Desjardins du Quebec Has $48.48 Million Stock Holdings in Cintas Corporation $CTAS

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in Cintas Corporation by 2.5%, selling 6,093 shares, and now owns 235,883 shares worth approximately $48.48 million.
• Multiple analysts have recently increased their target prices for Cintas, with UBS Group raising theirs from $240 to $255, indicating a positive outlook for the stock.
• Cintas has announced a quarterly dividend of $0.45, an increase from the previous $0.39, reflecting confidence in their financial health and commitment to returning value to shareholders.

Federation des caisses Desjardins du Quebec decreased its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,883 shares of the business services provider's stock after selling 6,093 shares during the period. Federation des caisses Desjardins du Quebec owned 0.06% of Cintas worth $48,481,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after purchasing an additional 491,307 shares during the last quarter. Nuveen LLC bought a new stake in Cintas during the 1st quarter valued at $1,877,760,000. Northern Trust Corp raised its stake in Cintas by 0.7% during the 1st quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock valued at $841,749,000 after acquiring an additional 28,469 shares in the last quarter. Royal Bank of Canada raised its stake in Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after acquiring an additional 115,268 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cintas by 11.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,818,147 shares of the business services provider's stock valued at $514,875,000 after acquiring an additional 295,226 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the sale, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction on Monday, July 21st. The stock was bought at an average cost of $222.55 per share, with a total value of $267,060.00. Following the transaction, the director directly owned 2,621 shares of the company's stock, valued at approximately $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 15.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 target price on shares of Cintas in a research note on Thursday, August 21st. UBS Group lifted their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Morgan Stanley boosted their price objective on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. began coverage on Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective on the stock. Finally, Robert W. Baird lifted their target price on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. One 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 issued a Sell rating to the company. According to data from MarketBeat, Cintas presently has an average rating of "Hold" and an average target price of $224.54.

Cintas Stock Down 1.1%

NASDAQ CTAS traded down $2.34 on Friday, reaching $204.50. The stock had a trading volume of 1,413,719 shares, compared to its average volume of 1,760,061. The business has a 50 day moving average price of $217.78 and a 200 day moving average price of $212.89. 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 company has a market capitalization of $82.41 billion, a price-to-earnings ratio of 46.37, a P/E/G ratio of 3.57 and a beta of 1.01.

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

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. This is an increase from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. Cintas's dividend payout ratio is presently 40.82%.

About Cintas

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.