NewEdge Advisors LLC Sells 1,692 Shares of Cintas Corporation $CTAS

Key Points

• NewEdge Advisors LLC reduced its stake in Cintas Corporation by 12.9%, selling 1,692 shares and holding a total of 11,436 shares worth approximately $2.35 million.
• Cintas reported a quarterly earnings per share (EPS) of $1.09, exceeding analysts' expectations, and announced a dividend increase from $0.39 to $0.45 per share.
• Several analysts have raised their price targets for Cintas, with UBS increasing it from $240 to $255, while The Goldman Sachs Group set a target at $257, indicating a positive outlook for the company's stock.

NewEdge Advisors LLC lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 12.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,436 shares of the business services provider's stock after selling 1,692 shares during the period. NewEdge Advisors LLC's holdings in Cintas were worth $2,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC bought a new stake in shares of Cintas during the first quarter valued at approximately $27,000. Saudi Central Bank bought a new stake in shares of Cintas during the first quarter valued at approximately $29,000. Stone House Investment Management LLC bought a new stake in shares of Cintas during the first quarter valued at approximately $41,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after acquiring an additional 181 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Cintas during the first quarter valued at approximately $46,000. Institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

CTAS has been the subject of several research analyst reports. Robert W. Baird lifted their price target 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. UBS Group boosted their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. 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 price objective for the company. Morgan Stanley boosted their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One investment 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $224.54.

Cintas Stock Performance

Shares of CTAS stock opened at $201.40 on Thursday. The business's fifty day simple moving average is $216.65 and its 200-day simple moving average is $212.81. The company has a market cap of $81.16 billion, a PE ratio of 45.67, a PEG ratio of 3.48 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. Cintas Corporation has a 12-month low of $180.78 and a 12-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, topping analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%.The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period 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. Analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 boost 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%. Cintas's payout ratio is currently 40.82%.

Insider Transactions at Cintas

In other Cintas news, Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction dated Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, with a total value of $267,060.00. Following the completion of the transaction, the director owned 2,621 shares in the company, valued at approximately $583,303.55. This trade represents a 84.45% increase in their position. The transaction 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 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 transaction, the director directly owned 21,945 shares in the company, valued at approximately $4,904,049.15. The trade was 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.

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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