QRG Capital Management Inc. Raises Holdings in Cintas Corporation $CTAS

Key Points

• QRG Capital Management Inc. increased its holdings in Cintas Corporation by 8.7% in the second quarter, now owning a total of 30,437 shares valued at approximately $6.78 million.
• Several institutional investors, including Nuveen LLC and Voya Investment Management LLC, have significantly increased their stakes in Cintas, highlighting strong demand for the stock.
• Cintas has recently increased its quarterly dividend from $0.39 to $0.45 per share, representing a 0.9% dividend yield and a payout ratio of 40.82%.

QRG Capital Management Inc. boosted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,437 shares of the business services provider's stock after buying an additional 2,430 shares during the quarter. QRG Capital Management Inc.'s holdings in Cintas were worth $6,783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. Nuveen LLC purchased a new position in Cintas in the first quarter worth $1,877,760,000. Voya Investment Management LLC grew its holdings in Cintas by 516.8% in the first quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider's stock worth $175,529,000 after purchasing an additional 715,570 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Cintas by 169.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider's stock worth $187,235,000 after purchasing an additional 573,151 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 491,307 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Cintas by 163.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 767,857 shares of the business services provider's stock worth $171,132,000 after purchasing an additional 476,336 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CTAS. Royal Bank Of Canada cut their price target on shares of Cintas from $240.00 to $206.00 and set a "sector perform" rating on the stock in a report on Thursday, September 25th. Robert W. Baird boosted their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Citigroup boosted their price objective on shares of Cintas from $172.00 to $176.00 and gave the company a "sell" rating in a report on Friday, September 26th. Wells Fargo & Company dropped their price objective on shares of Cintas from $221.00 to $218.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Cintas has a consensus rating of "Hold" and an average price target of $222.09.

Cintas Stock Down 0.1%

CTAS opened at $202.61 on Monday. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $211.00 and a 200 day moving average price of $213.24. The company has a market cap of $81.65 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly 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. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Sell-side analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently declared 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. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. Cintas's payout ratio is currently 40.82%.

Insider Buying and Selling

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