Nissay Asset Management Corp Japan ADV Has $28.70 Million Stock Position in Cintas Corporation $CTAS

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Cintas Corporation by 20.3%, acquiring an additional 23,601 shares, bringing its total holdings to 139,636 shares valued at approximately $28.7 million.
• Cintas recently raised its quarterly dividend to $0.45 per share, representing an increase from the previous $0.39, and set its dividend yield at 0.9%.
• In earnings results, Cintas beat analysts' expectations with a reported EPS of $1.09 for the quarter, surpassing the consensus estimate by $0.02 while also showing an 8.0% year-over-year revenue growth.

Nissay Asset Management Corp Japan ADV raised its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,636 shares of the business services provider's stock after acquiring an additional 23,601 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Cintas were worth $28,699,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. NatWest Group plc raised its holdings in Cintas by 6.6% in the 1st quarter. NatWest Group plc now owns 66,610 shares of the business services provider's stock valued at $13,690,000 after acquiring an additional 4,144 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Cintas by 2.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,511 shares of the business services provider's stock valued at $1,133,000 after acquiring an additional 149 shares in the last quarter. Hancock Whitney Corp raised its holdings in Cintas by 2.1% in the 1st quarter. Hancock Whitney Corp now owns 5,441 shares of the business services provider's stock valued at $1,118,000 after acquiring an additional 110 shares in the last quarter. DnB Asset Management AS raised its holdings in Cintas by 96.1% in the 1st quarter. DnB Asset Management AS now owns 141,583 shares of the business services provider's stock valued at $29,100,000 after acquiring an additional 69,390 shares in the last quarter. Finally, Concentric Capital Strategies LP acquired a new position in Cintas in the 1st quarter valued at approximately $5,257,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTAS. UBS Group upped their price target on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. Morgan Stanley increased their target price on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. 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, Robert W. Baird increased their target price on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Cintas has a consensus rating of "Hold" and a consensus target price of $224.54.

Insider Buying and Selling at Cintas

In other Cintas news, 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 completion of the transaction, the director owned 21,945 shares in the company, valued at approximately $4,904,049.15. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Mucci bought 1,200 shares of the stock in a transaction dated Monday, July 21st. The stock was purchased at an average cost of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. This trade represents a 84.45% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 15.00% of the company's stock.

Cintas Price Performance

CTAS traded down $2.34 during trading on Friday, hitting $204.50. The company's stock had a trading volume of 1,413,719 shares, compared to its average volume of 1,743,763. The firm's 50 day moving average price is $217.78 and its two-hundred day moving average price is $212.97. The company has a quick ratio of 1.82, a current ratio of 2.09 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. The stock has a market capitalization of $82.41 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 3.53 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data 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. Cintas had a return on equity of 41.21% and a net margin of 17.53%.The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the company posted $3.99 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Sell-side analysts forecast 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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 15th. This is a positive change 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.