Martingale Asset Management L P Has $4.06 Million Stake in Cintas Corporation $CTAS

Key Points

• Martingale Asset Management L P reduced its stake in Cintas Corporation by 17.2%, selling 4,096 shares and now holding 19,762 shares worth approximately $4.06 million.
• Cintas recently announced a quarterly dividend increase to $0.45 per share, payable on September 15th, representing a yield of 0.8% annually and a payout ratio of 40.82%.
• Several institutional investors have significantly increased their stakes in Cintas, with 63.46% of the stock now owned by institutional investors.

Martingale Asset Management L P lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,762 shares of the business services provider's stock after selling 4,096 shares during the quarter. Martingale Asset Management L P's holdings in Cintas were worth $4,062,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CTAS. Stone House Investment Management LLC bought a new stake in shares of Cintas during the 1st quarter worth $41,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Cintas by 646.4% during 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 acquiring an additional 181 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Cintas during the 1st quarter valued at about $46,000. Greykasell Wealth Strategies Inc. bought a new stake in Cintas in the first quarter valued at about $46,000. Finally, Wellington Shields & Co. LLC acquired a new position in Cintas in the first quarter worth about $51,000. 63.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Cintas

In related news, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The shares were bought 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 trade represents a 84.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the director directly owned 21,945 shares of the company's stock, valued at approximately $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. 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. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Robert W. Baird upped their target price on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. The Goldman Sachs Group lifted their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley boosted their price target on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. One research 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 issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $224.54.

Cintas Trading Down 0.2%

NASDAQ:CTAS traded down $0.52 during trading hours on Friday, hitting $215.59. 1,448,772 shares of the stock were exchanged, compared to its average volume of 1,375,107. The company has a market capitalization of $86.88 billion, a P/E ratio of 48.89, a price-to-earnings-growth ratio of 3.72 and a beta of 1.03. 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's 50 day moving average is $220.16 and its two-hundred day moving average is $212.69. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24.

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 (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. On average, sell-side analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Cintas's payout ratio is 40.82%.

About Cintas

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.