Pensionfund Sabic Sells 1,900 Shares of Cintas Corporation $CTAS

Key Points

• Pensionfund Sabic reduced its stake in Cintas Corporation by 21.1%, selling 1,900 shares in the first quarter and holding 7,100 shares worth approximately $1.46 million.
• Recent analyst adjustments have resulted in a targeted price increase for Cintas, with Morgan Stanley setting a new target of $220.00 and UBS raising it to $255.00.
• Cintas announced a quarterly dividend increase to $0.45 per share, up from $0.39, representing an annualized dividend of $1.80 and a yield of 0.9%.

Pensionfund Sabic decreased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,100 shares of the business services provider's stock after selling 1,900 shares during the quarter. Pensionfund Sabic's holdings in Cintas were worth $1,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.3% in the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after acquiring an additional 491,307 shares during the last quarter. Nuveen LLC bought a new position in shares of Cintas in the first quarter worth about $1,877,760,000. Northern Trust Corp lifted its holdings in shares of Cintas by 0.7% in the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock worth $841,749,000 after acquiring an additional 28,469 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after acquiring an additional 115,268 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cintas by 2.1% in the first 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 worth $591,373,000 after acquiring an additional 59,162 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTAS. Morgan Stanley increased their target price on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price for the company. Robert W. Baird upped their price objective on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cintas presently has an average rating of "Hold" and an average price target of $224.54.

Cintas Stock Performance

Cintas stock opened at $202.37 on Friday. The business has a 50 day moving average of $216.03 and a 200-day moving average of $212.79. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The company has a market capitalization of $81.55 billion, a P/E ratio of 45.89, a P/E/G ratio of 3.53 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%.The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. On average, equities research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. This is a boost from Cintas's previous quarterly dividend of $0.39. Cintas's payout ratio is currently 40.82%.

Insider Buying and Selling at Cintas

In other news, Director Martin Mucci bought 1,200 shares of the firm's stock in a transaction on Monday, July 21st. The stock was acquired at an average price of $222.55 per share, with a total value of $267,060.00. Following the transaction, the director owned 2,621 shares of the company's stock, valued at $583,303.55. This trade represents a 84.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer directly owned 622,712 shares of the company's stock, valued at $137,557,080.80. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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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