OLD National Bancorp IN Cuts Stake in Cintas Corporation $CTAS

Key Points

• OLD National Bancorp IN has reduced its stake in Cintas Corporation by 10.7%, holding 21,385 shares valued at approximately $4.77 million after selling 2,570 shares in the second quarter.
• During the most recent quarter, several institutional investors increased their holdings in Cintas, with Vanguard Group Inc. raising its stake by 1.3% and others also making significant investments.
• Cintas recently announced a quarterly dividend increase from $0.39 to $0.45 per share, reflecting an annualized dividend of $1.80 and a dividend yield of 0.9%.

OLD National Bancorp IN cut its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,385 shares of the business services provider's stock after selling 2,570 shares during the period. OLD National Bancorp IN's holdings in Cintas were worth $4,766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.3% during the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock valued at $7,781,223,000 after purchasing an additional 491,307 shares in the last quarter. Nuveen LLC bought a new stake in Cintas in the 1st quarter worth about $1,877,760,000. Northern Trust Corp raised its position in Cintas by 0.7% in the 1st quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock worth $841,749,000 after buying an additional 28,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cintas by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,877,309 shares of the business services provider's stock valued at $591,373,000 after acquiring an additional 59,162 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Cintas by 17.4% during the 1st quarter. Ameriprise Financial Inc. now owns 2,615,330 shares of the business services provider's stock valued at $538,303,000 after acquiring an additional 386,721 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Activity at Cintas

In other news, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction on Monday, July 21st. The stock was acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director directly owned 2,621 shares of the company's stock, valued at $583,303.55. This represents a 84.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares in the company, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. 14.90% of the stock is owned by corporate insiders.

Cintas Trading Down 0.1%

Cintas stock opened at $202.61 on Monday. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24. The firm's 50 day moving average price is $211.00 and its 200-day moving average price is $213.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. The stock has a market cap of $81.65 billion, a P/E ratio of 45.94, a PEG ratio of 3.50 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion during 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%. Cintas's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, equities analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a $0.45 dividend. This is an increase 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 was Friday, August 15th. Cintas's dividend payout ratio (DPR) is presently 40.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted 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. The Goldman Sachs Group boosted their target price 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. Wells Fargo & Company lowered their price target on Cintas from $221.00 to $218.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. cut their price objective on Cintas from $246.00 to $230.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Cintas in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of "Hold" and an average price target of $222.09.

Cintas Company 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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