Quarry LP Buys Shares of 1,771 Cintas Corporation $CTAS

Key Points

• Quarry LP has purchased a new position in Cintas Corporation, acquiring 1,771 shares valued at approximately $364,000 in the first quarter of the year.
• Cintas reported a $1.09 EPS for the last quarter, surpassing analysts' expectations of $1.07, with a revenue of $2.67 billion that exceeded forecasts.
• The company has announced an increase in its quarterly dividend to $0.45 per share, marking a boost from the previous dividend of $0.39.

Quarry LP purchased a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,771 shares of the business services provider's stock, valued at approximately $364,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Saudi Central Bank bought a new stake in Cintas in the 1st quarter valued at $29,000. Baird Financial Group Inc. increased its holdings in Cintas by 10.9% in the 1st quarter. Baird Financial Group Inc. now owns 103,222 shares of the business services provider's stock valued at $21,215,000 after buying an additional 10,151 shares during the period. Panagora Asset Management Inc. increased its holdings in Cintas by 7.6% in the 1st quarter. Panagora Asset Management Inc. now owns 212,676 shares of the business services provider's stock valued at $43,711,000 after buying an additional 14,981 shares during the period. Evergreen Capital Management LLC increased its holdings in Cintas by 9.8% in the 1st quarter. Evergreen Capital Management LLC now owns 3,893 shares of the business services provider's stock valued at $800,000 after buying an additional 348 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Cintas by 73.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 38,306 shares of the business services provider's stock valued at $7,873,000 after buying an additional 16,258 shares during the period. Institutional investors own 63.46% of the company's stock.

Insiders Place Their Bets

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 transaction of $1,136,121.48. Following the sale, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. This represents a 18.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Mucci acquired 1,200 shares of the firm's stock in a transaction on Monday, July 21st. The shares were bought at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 15.00% of the company's stock.

Cintas Price Performance

Shares of CTAS traded up $0.10 during trading hours on Wednesday, hitting $205.61. The stock had a trading volume of 2,220,056 shares, compared to its average volume of 1,641,517. The company's fifty day moving average is $218.38 and its two-hundred day moving average is $212.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The stock has a market capitalization of $82.86 billion, a price-to-earnings ratio of 46.62, a P/E/G ratio of 3.62 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data 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. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the firm earned $3.99 EPS. The company's revenue was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. On average, analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group boosted their price target on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. Morgan Stanley boosted their price target on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 target price on shares of Cintas in a report on Thursday, August 21st. Finally, The Goldman Sachs Group upped their target price on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $224.54.

Cintas 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.