Howard Capital Management LLC Buys 4,734 Shares of Cintas Corporation $CTAS

Key Points

• Howard Capital Management increased its Cintas stake by 44.4% in the third quarter, purchasing 4,734 additional shares for a total of 15,407 shares valued at approximately $3.0 million. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.39 in EPS and $3.01 billion in revenue, with year-over-year revenue growth of 10.9%. The company also raised its quarterly dividend to $0.52 per share, equivalent to a 1.0% annual yield.
• Shares recently traded at $213.69, near their 12-month high, while analysts maintained a “Moderate Buy” consensus with an average price target of $218.50; several firms raised targets to between $230 and $250.

Howard Capital Management LLC raised its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 44.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,407 shares of the business services provider's stock after buying an additional 4,734 shares during the period. Howard Capital Management LLC's holdings in Cintas were worth $3,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTAS. BlackRock Inc. bought a new position in Cintas during the 2nd quarter valued at $4,520,425,000. Bank of New York Mellon Corp bought a new stake in shares of Cintas in the 2nd quarter worth $644,334,000. Amundi raised its stake in shares of Cintas by 6.3% in the 1st quarter. Amundi now owns 2,402,362 shares of the business services provider's stock worth $406,336,000 after buying an additional 142,576 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Cintas in the second quarter valued at $386,159,000. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Cintas by 8.3% in the first quarter. Pictet Asset Management Holding SA now owns 2,167,957 shares of the business services provider's stock valued at $366,673,000 after buying an additional 165,752 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Up 0.3%

Shares of NASDAQ CTAS traded up $0.63 during mid-day trading on Friday, reaching $213.69. The company had a trading volume of 1,822,045 shares, compared to its average volume of 2,015,325. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45. The company has a market capitalization of $84.85 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 3.39 and a beta of 0.92. The stock has a fifty day moving average of $200.99 and a two-hundred day moving average of $187.24. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business posted $1.20 EPS. The company's revenue for the quarter was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, equities research analysts expect that Cintas Corporation will post 5.52 EPS for the current year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. This is an increase from Cintas's previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 14th. Cintas's dividend payout ratio is presently 41.03%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial raised their target price on Cintas from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Bank of America upgraded shares of Cintas from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Argus raised their price objective on shares of Cintas from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Tuesday, September 29th. Finally, UBS Group reaffirmed a "buy" rating and issued a $235.00 price objective (up from $230.00) on shares of Cintas in a research note on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $218.50.

Cintas Profile

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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