OMERS ADMINISTRATION Corp Buys New Stake in Cintas Corporation $CTAS

Key Points

• OMERS Administration Corp purchased 21,291 Cintas shares during the second quarter, valued at approximately $3.6 million. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS and $2.91 billion in revenue, with year-over-year revenue growth of 8.9%. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $212.31.
• The company increased its quarterly dividend from $0.45 to $0.52 per share, equivalent to an annualized dividend of $2.08 and a 1.0% yield.

OMERS ADMINISTRATION Corp purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,291 shares of the business services provider's stock, valued at approximately $3,621,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Cintas in the 2nd quarter worth about $4,520,425,000. Norges Bank acquired a new stake in Cintas in the fourth quarter valued at approximately $923,672,000. Bank of New York Mellon Corp acquired a new stake in Cintas in the second quarter valued at approximately $644,334,000. Deutsche Bank AG purchased a new stake in shares of Cintas in the second quarter valued at approximately $204,831,000. Finally, Two Sigma Investments LP increased its position in shares of Cintas by 5,641.3% in the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock valued at $208,682,000 after buying an additional 998,963 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CTAS shares. Weiss Ratings raised Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. Truist Financial dropped their price target on shares of Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Monday, June 15th. Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. UBS Group restated a "buy" rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Finally, Robert W. Baird increased their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cintas has a consensus rating of "Moderate Buy" and an average target price of $212.31.

Cintas Price Performance

Shares of Cintas stock opened at $204.76 on Wednesday. The stock has a market capitalization of $81.94 billion, a P/E ratio of 54.75, a PEG ratio of 3.35 and a beta of 0.92. The business has a 50 day simple moving average of $192.37 and a two-hundred day simple moving average of $185.24. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. 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 results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The business's revenue 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, analysts predict that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 14th. This is an increase from Cintas's previous quarterly dividend of $0.45. Cintas's payout ratio is 55.61%.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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