Quantbot Technologies LP Takes Position in Cintas Corporation $CTAS

Key Points

• Quantbot Technologies purchased 31,157 Cintas shares worth approximately $5.3 million in the second quarter. Several other institutional investors also initiated positions, with institutions collectively owning 63.46% of the stock.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $212.31. Recent targets range from $206 to $250.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS and $2.91 billion in revenue, while revenue grew 8.9% year over year. The company also increased its quarterly dividend from $0.45 to $0.52 per share.

Quantbot Technologies LP purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 31,157 shares of the business services provider's stock, valued at approximately $5,299,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Evolve Private Wealth LLC purchased a new position in Cintas in the 2nd quarter valued at approximately $676,000. Varma Mutual Pension Insurance Co purchased a new stake in shares of Cintas during the second quarter worth $11,065,000. George Kaiser Family Foundation bought a new position in shares of Cintas in the second quarter worth $394,000. Westpac Banking Corp bought a new position in shares of Cintas in the second quarter worth $242,000. Finally, TRB Wealth Management LLC purchased a new position in shares of Cintas in the second quarter valued at $252,000. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CTAS. The Goldman Sachs Group reiterated a "buy" rating and set a $231.00 price objective on shares of Cintas in a research note on Wednesday, July 15th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and upped their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Truist Financial lowered their price target on shares of Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, June 15th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $212.31.

Cintas Trading Up 0.1%

Shares of CTAS stock opened at $203.79 on Friday. 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 $219.16. The company has a market capitalization of $81.55 billion, a PE ratio of 54.49, a price-to-earnings-growth ratio of 3.29 and a beta of 0.92. The business's fifty day moving average is $191.16 and its 200 day moving average is $185.08.

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

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Cintas's payout ratio is presently 55.61%.

Cintas Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source