Mirae Asset Global Investments Co. Ltd. Acquires 11,727 Shares of Cintas Corporation $CTAS

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Cintas Corporation by 7.0%, acquiring an additional 11,727 shares during the second quarter, bringing its total ownership to 179,170 shares valued at approximately $39.9 million.
• Cintas reported earnings per share (EPS) of $1.20 for the most recent quarter, beating analysts' estimates, along with a revenue of $2.72 billion, which was above expectations.
• The company recently declared a quarterly dividend of $0.45 per share, increasing from the previous dividend of $0.39, representing an annualized dividend yield of 0.9%.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,170 shares of the business services provider's stock after acquiring an additional 11,727 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Cintas were worth $39,932,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC grew its position in Cintas by 10.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,318 shares of the business services provider's stock worth $294,000 after acquiring an additional 129 shares during the last quarter. ASR Vermogensbeheer N.V. grew its stake in shares of Cintas by 46.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 12,681 shares of the business services provider's stock valued at $2,826,000 after purchasing an additional 4,019 shares during the last quarter. Brookmont Capital Management grew its stake in shares of Cintas by 9.4% during the second quarter. Brookmont Capital Management now owns 1,257 shares of the business services provider's stock valued at $280,000 after purchasing an additional 108 shares during the last quarter. Pure Financial Advisors LLC bought a new stake in shares of Cintas during the second quarter valued at approximately $239,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Cintas by 163.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 767,857 shares of the business services provider's stock valued at $171,132,000 after purchasing an additional 476,336 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Wells Fargo & Company decreased their price target on shares of Cintas from $221.00 to $218.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Cintas from $246.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. The Goldman Sachs Group increased their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, 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 research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Cintas presently has an average rating of "Hold" and a consensus target price of $222.09.

Insider Transactions at Cintas

In other news, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction 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 transaction, the chief executive officer directly owned 622,712 shares of the company's stock, valued at $137,557,080.80. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction dated Monday, July 21st. The shares were purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This represents a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 14.90% of the company's stock.

Cintas Price Performance

Shares of CTAS stock opened at $202.61 on Friday. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The stock has a market cap of $81.65 billion, a PE ratio of 45.94, a PEG ratio of 3.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.94 and a current ratio of 2.24. The firm's 50 day moving average price is $211.00 and its two-hundred day moving average price is $212.99.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.01. The firm had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, 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 was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were given a dividend of $0.45 per share. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 15th. 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.

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