Headlands Technologies LLC increased its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 561.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,154 shares of the business services provider's stock after purchasing an additional 37,482 shares during the period. Cintas accounts for approximately 1.0% of Headlands Technologies LLC's investment portfolio, making the stock its 16th biggest position. Headlands Technologies LLC's holdings in Cintas were worth $9,075,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. lifted its stake in Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Cintas in the first quarter valued at approximately $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cintas in the first quarter valued at approximately $46,000. Wellington Shields & Co. LLC purchased a new position in Cintas during the first quarter worth approximately $51,000. Finally, Olde Wealth Management LLC acquired a new position in Cintas during the first quarter worth $55,000. 63.46% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 price target (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cintas has a consensus rating of "Hold" and an average price target of $224.54.
Check Out Our Latest Report on Cintas
Insider Activity
In other news, Director Martin Mucci acquired 1,200 shares of the company's stock in a transaction on Monday, July 21st. The shares were bought at an average cost of $222.55 per share, with a total value of $267,060.00. Following the purchase, the director owned 2,621 shares of the company's stock, valued at $583,303.55. This represents a 84.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction 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. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.
Cintas Stock Up 1.3%
CTAS traded up $2.87 on Friday, reaching $226.27. The company's stock had a trading volume of 1,739,749 shares, compared to its average volume of 1,453,720. The company has a market capitalization of $91.18 billion, a price-to-earnings ratio of 51.31, a P/E/G ratio of 3.85 and a beta of 1.03. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $221.38 and a two-hundred day moving average of $211.26.
Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.99 EPS. As a group, analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.
Cintas Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. Cintas's dividend payout ratio is presently 35.37%.
Cintas Company Profile
(
Free Report)
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.
See Also
Before you consider Cintas, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cintas wasn't on the list.
While Cintas currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
