Nordea Investment Management AB Decreases Stock Holdings in Cintas Corporation $CTAS

Key Points

• Nordea Investment Management AB reduced its holdings in Cintas Corporation by 4.6% during the second quarter, leaving it with approximately 2.5 million shares valued at $551 million.
• Analysts have mixed opinions on Cintas, with ratings ranging from Strong Buy to Sell, and an average price target of $222.09.
• Cintas recently increased its quarterly dividend from $0.39 to $0.45 per share, indicating a positive change with a yield of 1.0%.

Nordea Investment Management AB trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,496,732 shares of the business services provider's stock after selling 121,116 shares during the quarter. Nordea Investment Management AB owned about 0.62% of Cintas worth $551,054,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of Cintas during the first quarter valued at about $27,000. Saudi Central Bank acquired a new position in shares of Cintas during the first quarter valued at about $29,000. Stone House Investment Management LLC acquired a new position in shares of Cintas during the first quarter valued at about $41,000. Resources Management Corp CT ADV acquired a new position in shares of Cintas during the first quarter valued at about $41,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings 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. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CTAS. Weiss Ratings restated a "buy (b)" rating on shares of Cintas in a report on Wednesday, October 8th. Robert W. Baird upped their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Royal Bank Of Canada cut their price objective on shares of Cintas from $240.00 to $206.00 and set a "sector perform" rating on the stock in a report on Thursday, September 25th. UBS Group upped their price objective on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Morgan Stanley upped their price objective on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $222.09.

Insider Transactions at Cintas

In other news, Director Martin Mucci acquired 1,200 shares of the company's stock in a transaction dated Monday, July 21st. The shares were acquired 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 of the company's stock, valued at $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 in the company, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company's stock.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $184.36 on Friday. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company's 50 day moving average is $205.38 and its 200 day moving average is $212.54. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The company has a market cap of $74.09 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. Cintas's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio is 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.

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