Nykredit A S Makes New Investment in Cintas Corporation $CTAS

Key Points

• Nykredit A/S acquired 103,849 Cintas shares during the second quarter, valued at approximately $17.7 million. Institutional investors and hedge funds collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS and $2.91 billion in revenue, with revenue increasing 8.9% year over year. The company also raised its quarterly dividend to $0.52 per share, yielding about 1.1% annually.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $212.31, compared with the stock’s reported price of $197.64.

Nykredit A S acquired a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 103,849 shares of the business services provider's stock, valued at approximately $17,663,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Cintas in the second quarter worth approximately $4,520,425,000. Geode Capital Management LLC lifted its position in shares of Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider's stock worth $1,746,453,000 after purchasing an additional 97,220 shares during the last quarter. Norges Bank purchased a new stake in shares of Cintas during the 4th quarter worth $923,672,000. Bank of New York Mellon Corp acquired a new position in shares of Cintas during the second quarter worth $644,334,000. Finally, Goldman Sachs Group Inc. increased its holdings in Cintas by 2.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,438,568 shares of the business services provider's stock valued at $458,622,000 after buying an additional 50,838 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of Cintas stock opened at $197.64 on Friday. The firm's fifty day simple moving average is $201.91 and its 200-day simple moving average is $185.78. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. The stock has a market capitalization of $79.19 billion, a price-to-earnings ratio of 52.84, a PEG ratio of 3.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the firm posted $1.09 EPS. Cintas's revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 1.1%. This is a boost from Cintas's previous quarterly dividend of $0.45. Cintas's dividend payout ratio (DPR) is currently 55.61%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings raised Cintas from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 11th. Bank of America raised Cintas from a "neutral" rating to a "buy" rating and upped their price target for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Truist Financial lowered their target price on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a report on Monday, June 15th. Finally, UBS Group reiterated a "buy" rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.31.

Cintas Company Profile

Cintas Corporation is a provider of workplace products and services for businesses across North America. The company helps organizations manage employee appearance, workplace cleanliness, safety, and compliance through a range of recurring service programs.

Its offerings include uniform rental and workwear, branded apparel, entrance mats, restroom supplies, and facility cleaning services. Cintas also provides first-aid and safety products, training, and fire protection services, including inspection and maintenance programs for fire extinguishers, sprinkler systems, alarms, and related equipment.

Headquartered in Mason, Ohio, Cintas traces its roots to a family-operated industrial laundry business established by Richard T.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.