Lansforsakringar Fondforvaltning AB publ Lowers Position in Cintas Corporation $CTAS

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in Cintas Corporation by 2.0%, owning 118,141 shares valued at approximately $24.28 million as of its latest SEC filing.
• Cintas recently declared a quarterly dividend of $0.45, an increase from its previous $0.39, resulting in an annualized dividend yield of 0.9%.
• The company reported strong quarterly earnings, with $1.09 EPS, surpassing analyst expectations of $1.07, and a revenue increase of 8.0% year-over-year.

Lansforsakringar Fondforvaltning AB publ trimmed its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,141 shares of the business services provider's stock after selling 2,396 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Cintas were worth $24,282,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CTAS. Brighton Jones LLC raised its position in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after purchasing an additional 108 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Cintas by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock valued at $93,969,000 after purchasing an additional 3,504 shares during the last quarter. Lido Advisors LLC grew its position in Cintas by 3.9% during the 4th quarter. Lido Advisors LLC now owns 17,811 shares of the business services provider's stock valued at $3,254,000 after purchasing an additional 673 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Cintas by 71.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 9,750 shares of the business services provider's stock valued at $1,781,000 after purchasing an additional 4,078 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Cintas in the fourth quarter worth about $492,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CTAS shares. UBS Group increased their price target on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective on the stock. Robert W. Baird increased their target price on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 target price on shares of Cintas in a report on Thursday, August 21st. Finally, Morgan Stanley boosted their price target on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $224.54.

Insider Activity

In related news, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Cintas Stock Performance

NASDAQ:CTAS traded up $1.71 during trading hours on Monday, reaching $210.03. The company had a trading volume of 1,768,762 shares, compared to its average volume of 1,713,109. The firm has a market cap of $84.64 billion, a price-to-earnings ratio of 47.63, a PEG ratio of 3.62 and a beta of 1.01. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average price is $219.22 and its 200-day moving average price is $212.93. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly 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 firm had revenue of $2.67 billion for 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 company's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.99 EPS. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. On average, analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio is presently 40.82%.

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.