GLOBALT Investments LLC GA Sells 1,597 Shares of Cintas Corporation $CTAS

Key Points

• GLOBALT Investments LLC has reduced its stake in Cintas Corporation by 4.9%, selling 1,597 shares and now holding 31,317 shares valued at approximately $6.98 million.
• Cintas announced a quarterly dividend increase to $0.45 per share, up from $0.39, reflecting an annualized yield of 0.9% and a payout ratio of 40.82%.
• The latest earnings report indicated that Cintas surpassed expectations with $1.20 earnings per share and revenue of $2.72 billion, experiencing an 8.7% year-over-year growth.

GLOBALT Investments LLC GA lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,317 shares of the business services provider's stock after selling 1,597 shares during the period. GLOBALT Investments LLC GA's holdings in Cintas were worth $6,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTAS. Brighton Jones LLC grew its position in shares of Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after buying an additional 108 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Cintas by 18.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,483 shares of the business services provider's stock worth $7,910,000 after acquiring an additional 5,989 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Cintas by 11.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 16,739 shares of the business services provider's stock valued at $3,440,000 after purchasing an additional 1,699 shares during the period. Legacy Advisors LLC bought a new stake in shares of Cintas in the 1st quarter valued at about $211,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Cintas in the 1st quarter worth approximately $462,000. Institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CTAS shares. JPMorgan Chase & Co. dropped their price objective on shares of Cintas from $246.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cintas in a research report on Wednesday, October 8th. Citigroup lifted their price target on Cintas from $172.00 to $176.00 and gave the company a "sell" rating in a report on Friday, September 26th. Royal Bank Of Canada decreased their price objective on Cintas from $240.00 to $206.00 and set a "sector perform" rating for the company in a research note on Thursday, September 25th. Finally, Wells Fargo & Company dropped their price objective on Cintas from $221.00 to $218.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $222.09.

Cintas Stock Performance

Shares of CTAS opened at $192.34 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The firm has a market cap of $77.30 billion, a PE ratio of 43.61, a P/E/G ratio of 3.34 and a beta of 1.01. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The stock has a fifty day moving average price of $202.23 and a 200-day moving average price of $212.27.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Equities research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were paid a $0.45 dividend. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date was Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Cintas's dividend payout ratio (DPR) is 40.82%.

Insider Activity at Cintas

In other news, 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 in the company, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the sale, the director directly owned 21,945 shares in the company, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.