Price T Rowe Associates Inc. MD Buys 16,797 Shares of Cintas Corporation $CTAS

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Cintas Corporation by 0.7%, owning a total of 2,587,432 shares worth approximately $531.8 million after purchasing an additional 16,797 shares in Q1.
• Cintas recently reported a Q1 earnings per share (EPS) of $1.09, exceeding analysts' estimates, and had a revenue of $2.67 billion, reflecting an 8% increase year-over-year.
• In a recent announcement, Cintas raised its quarterly dividend from $0.39 to $0.45 per share, representing an annualized yield of 0.8%, set to be paid on September 15th.

Price T Rowe Associates Inc. MD raised its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,587,432 shares of the business services provider's stock after purchasing an additional 16,797 shares during the period. Price T Rowe Associates Inc. MD owned 0.64% of Cintas worth $531,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. Stone House Investment Management LLC purchased a new stake in shares of Cintas during the 1st quarter valued at about $41,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Cintas by 646.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after buying an additional 181 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Cintas during the 1st quarter valued at about $46,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Cintas during the 1st quarter valued at about $46,000. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Cintas during the 1st quarter valued at about $51,000. Institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. UBS Group increased their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $224.54.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $215.59 on Friday. The firm has a market cap of $86.88 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 3.73 and a beta of 1.03. The firm's 50 day simple moving average is $220.16 and its 200-day simple moving average is $212.56. Cintas Corporation has a one year low of $180.78 and a one year high of $229.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The business 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 period last year, the company posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, equities analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. Cintas's dividend payout ratio is 40.82%.

Insider Transactions at Cintas

In other news, CEO Todd M. Schneider sold 17,301 shares of the firm's 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 transaction, the chief executive officer directly owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Mucci acquired 1,200 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 15.00% of the company's stock.

About Cintas

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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