Frank Rimerman Advisors LLC Buys 6,006 Shares of Cintas Corporation $CTAS

Key Points

• Frank Rimerman Advisors LLC increased its Cintas stake by 162.9% in the third quarter, adding 6,006 shares to hold 9,693 shares valued at approximately $1.89 million.
• Cintas reported quarterly results above expectations, with EPS of $1.39 versus the $1.35 consensus estimate and revenue of $3.01 billion, up 10.9% year over year.
• The company raised its quarterly dividend to $0.52 per share, equivalent to a $2.08 annual payout and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $218.50.

Frank Rimerman Advisors LLC boosted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 162.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,693 shares of the business services provider's stock after purchasing an additional 6,006 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Cintas were worth $1,891,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CTAS. First United Bank & Trust bought a new stake in shares of Cintas in the 1st quarter valued at about $25,000. Whipplewood Advisors LLC grew its position in shares of Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider's stock worth $25,000 after buying an additional 137 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Cintas during the 2nd quarter worth approximately $27,000. Archer Investment Corp bought a new position in shares of Cintas during the 1st quarter worth approximately $32,000. Finally, Highland Investment Advisors LLC bought a new position in shares of Cintas during the 2nd quarter worth approximately $32,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 0.3%

Cintas stock opened at $213.69 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.45 and a debt-to-equity ratio of 0.27. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The company has a market capitalization of $84.85 billion, a price-to-earnings ratio of 42.15, a price-to-earnings-growth ratio of 3.40 and a beta of 0.92. The stock has a 50-day moving average price of $200.99 and a 200 day moving average price of $187.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the company earned $1.20 EPS. Cintas's quarterly revenue was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Sell-side analysts anticipate that Cintas Corporation will post 5.52 EPS for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a boost from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 14th. Cintas's dividend payout ratio is 41.03%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Cintas from $200.00 to $210.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. Truist Financial increased their price target on Cintas from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Rothschild & Co Redburn boosted their price target on Cintas from $184.00 to $198.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Argus upped their price objective on shares of Cintas from $230.00 to $240.00 and gave the company a "buy" rating in a report on Tuesday, September 29th. Finally, Robert W. Baird set a $222.00 target price on shares of Cintas and gave the stock an "outperform" rating in a research note on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $218.50.

Cintas Profile

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.