PNC Financial Services Group Inc. Buys 28,844 Shares of Cintas Corporation $CTAS

Key Points

• PNC Financial Services Group increased its stake in Cintas by 2.5% in the first quarter, buying 28,844 additional shares and bringing its total holding to 1,163,448 shares worth about $196.8 million.
• Institutional ownership in Cintas remains high, with several large firms such as State Street, Geode Capital, and Norges Bank also holding significant positions; overall, institutions own about 63.46% of the stock.
• Cintas recently reported better-than-expected quarterly results, posting $1.29 EPS on revenue of $2.91 billion, and analysts currently have a consensus rating of Moderate Buy with an average price target of $212.31.

PNC Financial Services Group Inc. boosted its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,163,448 shares of the business services provider's stock after purchasing an additional 28,844 shares during the quarter. PNC Financial Services Group Inc. owned about 0.29% of Cintas worth $196,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Cintas by 1.4% in the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider's stock worth $2,879,632,000 after buying an additional 210,477 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider's stock worth $1,746,453,000 after acquiring an additional 97,220 shares during the last quarter. Norges Bank bought a new stake in shares of Cintas during the 4th quarter worth $923,672,000. Morgan Stanley grew its position in Cintas by 0.8% in the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider's stock worth $826,214,000 after acquiring an additional 36,666 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cintas by 4.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,683,582 shares of the business services provider's stock worth $504,702,000 after acquiring an additional 112,622 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial reduced their target price on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Monday, June 15th. Robert W. Baird lifted their price target on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a report on Tuesday, March 31st. Royal Bank Of Canada reiterated a "sector perform" rating and set a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Finally, Stifel Nicolaus decreased their price objective on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $212.31.

Cintas Price Performance

CTAS stock opened at $201.36 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The firm's fifty day moving average is $177.80 and its 200 day moving average is $183.06. The firm has a market cap of $80.56 billion, a P/E ratio of 53.84, a P/E/G ratio of 3.24 and a beta of 0.94.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm's revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Research analysts predict that Cintas Corporation will post 5.49 earnings per share for the current year.

About Cintas

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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