Principle Wealth Partners LLC Acquires New Holdings in Cintas Corporation $CTAS

Key Points

• Principle Wealth Partners LLC has acquired a new stake in Cintas Corporation, purchasing 1,640 shares valued at approximately $366,000 during the 2nd quarter.
• Cintas recently reported earnings per share of $1.20, which exceeded analyst expectations and indicated an 8.7% revenue increase compared to the previous year.
• The company has increased its quarterly dividend from $0.39 to $0.45 per share, reflecting a boost in annualized dividends and a current yield of 0.9%.

Principle Wealth Partners LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,640 shares of the business services provider's stock, valued at approximately $366,000.

Other hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC bought a new stake in Cintas in the 1st quarter valued at about $27,000. Saudi Central Bank bought a new stake in Cintas in the 1st quarter valued at about $29,000. Stone House Investment Management LLC bought a new stake in Cintas in the 1st quarter valued at about $41,000. Resources Management Corp CT ADV bought a new stake in Cintas in the 1st quarter valued at about $41,000. Finally, Washington Trust Advisors Inc. bought a new stake in Cintas in the 1st quarter valued at about $46,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Cintas stock opened at $192.34 on Friday. The firm's 50 day simple moving average is $202.23 and its 200-day simple moving average is $212.27. The company has a market cap of $77.30 billion, a P/E ratio of 43.61, a price-to-earnings-growth ratio of 3.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, equities research analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTAS shares. The Goldman Sachs Group raised their target price on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Cintas in a research note on Wednesday, October 8th. Wells Fargo & Company lowered their target price on shares of Cintas from $221.00 to $218.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Morgan Stanley raised their target price on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, UBS Group raised their target price on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $222.09.

Insider Buying and Selling

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the sale, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.90% of the stock is owned by insiders.

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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