Park National Corp OH Acquires 163,920 Shares of Cintas Corporation $CTAS

Key Points

• Park National Corp OH increased its Cintas stake by 620.6% in the third quarter, purchasing 163,920 additional shares for a total of 190,332 shares valued at approximately $37.1 million.
• Institutional investors own 63.46% of Cintas, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $216.08.
• Cintas exceeded quarterly earnings and revenue expectations, reporting $1.39 in EPS and $3.01 billion in revenue, while increasing its quarterly dividend to $0.52 per share.

Park National Corp OH raised its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 620.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 190,332 shares of the business services provider's stock after acquiring an additional 163,920 shares during the period. Cintas makes up approximately 1.0% of Park National Corp OH's investment portfolio, making the stock its 25th largest position. Park National Corp OH's holdings in Cintas were worth $37,126,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CTAS. AMG National Trust Bank purchased a new stake in shares of Cintas in the 2nd quarter valued at approximately $1,973,000. Summit Global Investments acquired a new position in Cintas in the second quarter valued at approximately $950,000. TimesSquare Capital Management LLC acquired a new position in Cintas in the second quarter valued at approximately $62,057,000. Oppenheimer Asset Management Inc. purchased a new position in Cintas in the second quarter worth approximately $4,972,000. Finally, BlackRock Inc. acquired a new stake in Cintas during the second quarter worth $4,520,425,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CTAS shares. Royal Bank Of Canada reiterated a "sector perform" rating and set a $206.00 price target on shares of Cintas in a report on Thursday, September 24th. Robert W. Baird set a $222.00 target price on shares of Cintas and gave the company an "outperform" rating in a research report on Thursday, September 24th. Weiss Ratings raised shares of Cintas from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 11th. Citigroup boosted their price target on shares of Cintas from $180.00 to $181.00 and gave the company a "sell" rating in a research note on Wednesday, September 30th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.08.

Cintas Stock Up 0.7%

CTAS stock traded up $1.26 during mid-day trading on Monday, reaching $194.28. The company had a trading volume of 444,379 shares, compared to its average volume of 2,137,695. The firm has a fifty day simple moving average of $201.57 and a 200 day simple moving average of $185.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45. The company has a market capitalization of $77.85 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 3.07 and a beta of 0.92. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.04. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Cintas had a return on equity of 42.57% and a net margin of 17.82%.The business's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Analysts forecast that Cintas Corporation will post 5.52 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were given a dividend of $0.52 per share. This is an increase from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Cintas's dividend payout ratio is presently 41.03%.

About Cintas

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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