Intech Investment Management LLC Has $25.63 Million Position in Cintas Corporation $CTAS

Key Points

• Intech Investment Management LLC significantly reduced its holdings in Cintas Corporation by 61.7%, now owning 124,679 shares worth approximately $25.63 million.
• Cintas recently announced a quarterly dividend increase to $0.45 per share, which is a boost from its previous $0.39 dividend.
• The company's latest earnings report showed a quarterly revenue of $2.67 billion, surpassing analysts' expectations and reflecting an 8% increase year-over-year.

Intech Investment Management LLC cut its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 61.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,679 shares of the business services provider's stock after selling 201,062 shares during the quarter. Intech Investment Management LLC's holdings in Cintas were worth $25,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CTAS. Pinnacle Wealth Management Advisory Group LLC lifted its position in Cintas by 3.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock valued at $258,000 after buying an additional 47 shares during the last quarter. Oarsman Capital Inc. increased its stake in shares of Cintas by 3.9% during the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock worth $272,000 after buying an additional 49 shares during the period. MJP Associates Inc. ADV raised its holdings in Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after purchasing an additional 50 shares in the last quarter. Truvestments Capital LLC grew its position in shares of Cintas by 17.4% during the first quarter. Truvestments Capital LLC now owns 338 shares of the business services provider's stock worth $69,000 after acquiring an additional 50 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its position in shares of Cintas by 4.1% during the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock worth $266,000 after acquiring an additional 51 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group lifted their price target on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. began coverage on shares of Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price for the company. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Finally, Robert W. Baird upped their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Price Performance

NASDAQ:CTAS traded down $2.13 during mid-day trading on Friday, reaching $202.37. 1,371,284 shares of the stock were exchanged, compared to its average volume of 1,933,127. The business has a fifty day moving average price of $216.03 and a 200 day moving average price of $212.79. The firm has a market capitalization of $81.55 billion, a PE ratio of 45.89, a PEG ratio of 3.53 and a beta of 1.01. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results 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. Cintas had a return on equity of 41.21% and a net margin of 17.53%.The firm had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter last year, the business posted $3.99 EPS. Cintas's revenue was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. 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. Cintas's dividend payout ratio (DPR) is 40.82%.

Insiders Place Their Bets

In related news, Director Martin Mucci purchased 1,200 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average price of $222.55 per share, with a total value of $267,060.00. Following the purchase, the director directly owned 2,621 shares in the company, valued at $583,303.55. This represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the transaction, the director directly owned 21,945 shares in the company, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

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.