Ieq Capital LLC Increases Stake in Cintas Corporation $CTAS

Key Points

• Ieq Capital LLC increased its stake in Cintas Corporation by 17.9%, owning a total of 61,856 shares worth approximately $12.7 million at the end of Q1.
• Cintas declared a quarterly dividend of $0.45 per share, a raise from the previous $0.39, with a payout ratio of 40.82%.
• In its latest earnings report, Cintas exceeded analysts' expectations, posting $1.09 EPS and revenue of $2.67 billion, up 8.0% year-over-year.

Ieq Capital LLC increased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,856 shares of the business services provider's stock after buying an additional 9,404 shares during the period. Ieq Capital LLC's holdings in Cintas were worth $12,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC acquired a new stake in Cintas in the first quarter worth about $270,000. Ameriprise Financial Inc. lifted its holdings in shares of Cintas by 26.7% during the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after purchasing an additional 468,950 shares during the period. Pinnacle Financial Partners Inc lifted its holdings in Cintas by 3.8% in the first quarter. Pinnacle Financial Partners Inc now owns 60,099 shares of the business services provider's stock valued at $12,327,000 after acquiring an additional 2,191 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Cintas by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,967 shares of the business services provider's stock valued at $2,049,000 after acquiring an additional 3,404 shares during the period. Finally, Ensign Peak Advisors Inc lifted its holdings in Cintas by 5.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 257,032 shares of the business services provider's stock valued at $46,960,000 after acquiring an additional 12,734 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Mucci acquired 1,200 shares of the stock in a transaction dated Monday, July 21st. The stock was acquired at an average cost of $222.55 per share, with a total value of $267,060.00. Following the transaction, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by company insiders.

Cintas Trading Up 0.1%

NASDAQ:CTAS opened at $213.20 on Thursday. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The stock's 50 day moving average price is $219.64 and its 200 day moving average price is $212.76. 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 company has a market capitalization of $85.92 billion, a PE ratio of 48.34, a P/E/G ratio of 3.67 and a beta of 1.03.

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

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.8%. Cintas's dividend payout ratio (DPR) is 40.82%.

Analyst Ratings Changes

CTAS has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. began coverage on Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price for the company. Royal Bank Of Canada restated a "sector perform" rating and issued a $240.00 target price on shares of Cintas in a report on Thursday, August 21st. Robert W. Baird upped their price target on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $224.54.

Cintas Profile

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.

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