Plato Investment Management Ltd Sells 5,838 Shares of Cintas Corporation $CTAS

Key Points

• Plato Investment Management Ltd has significantly reduced its stake in Cintas Corporation by 48.6%, selling 5,838 shares and now holding 6,182 shares worth $1,284,000.
• Cintas announced a quarterly dividend increase to $0.45 per share, payable on September 15, reflecting a commitment to returning value to shareholders.
• Analysts have raised their price targets for Cintas shares, with UBS boosting its target from $240 to $255 and Goldman Sachs from $233 to $257, indicating a positive outlook for the stock.

Plato Investment Management Ltd trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 48.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,182 shares of the business services provider's stock after selling 5,838 shares during the quarter. Plato Investment Management Ltd's holdings in Cintas were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CTAS. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Cintas by 3.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock valued at $258,000 after purchasing an additional 47 shares in the last quarter. Oarsman Capital Inc. lifted its position in shares of Cintas by 3.9% during the 1st quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock worth $272,000 after buying an additional 49 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of Cintas by 17.4% in the 1st quarter. Truvestments Capital LLC now owns 338 shares of the business services provider's stock worth $69,000 after buying an additional 50 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Cintas by 4.1% in the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after acquiring an additional 51 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Cintas by 4.1% in the first quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock valued at $265,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Cintas Price Performance

NASDAQ CTAS opened at $201.40 on Thursday. The company has a market cap of $81.16 billion, a PE ratio of 45.67, a price-to-earnings-growth ratio of 3.48 and a beta of 1.01. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The firm's 50-day simple moving average is $216.65 and its two-hundred day simple moving average is $212.81. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

The business 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. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Cintas's dividend payout ratio (DPR) is currently 40.82%.

Insider Transactions at Cintas

In other news, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Mucci acquired 1,200 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were bought at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the purchase, the director owned 2,621 shares in the company, valued at $583,303.55. This trade represents a 84.45% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 15.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTAS shares. UBS Group boosted their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. The Goldman Sachs Group raised their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley lifted their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. began coverage on shares of Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $224.54.

Cintas 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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