Red Spruce Capital LLC Invests $325,000 in Cintas Corporation $CTAS

Key Points

• Red Spruce Capital LLC purchased a new position in Cintas Corporation, acquiring 1,460 shares valued at approximately $325,000.
• Cintas recently increased its quarterly dividend from $0.39 to $0.45 per share, resulting in an annualized yield of 0.9%.
• Wall Street analysts have upgraded Cintas's price targets, with the Goldman Sachs Group raising their target to $257.00, while the consensus price target stands at $224.54.

Red Spruce Capital LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,460 shares of the business services provider's stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Cintas by 1.3% during the 1st 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. Nuveen LLC purchased a new stake in shares of Cintas during the first quarter valued at approximately $1,877,760,000. Northern Trust Corp grew its position in shares of Cintas by 0.7% during the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock worth $841,749,000 after buying an additional 28,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cintas by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,877,309 shares of the business services provider's stock worth $591,373,000 after purchasing an additional 59,162 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cintas by 11.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,818,147 shares of the business services provider's stock worth $514,875,000 after purchasing an additional 295,226 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer directly owned 622,712 shares in the company, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CTAS has been the topic of a number of recent research reports. UBS Group raised their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Morgan Stanley lifted their price target on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 price target on shares of Cintas in a research note on Thursday, August 21st. Robert W. Baird lifted their price target on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $224.54.

Cintas Stock Performance

Shares of CTAS stock traded up $0.16 during trading hours on Friday, reaching $199.67. 1,351,249 shares of the company's stock were exchanged, compared to its average volume of 1,722,679. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The stock has a market capitalization of $80.46 billion, a P/E ratio of 45.26, a P/E/G ratio of 3.45 and a beta of 1.01. The business has a fifty day moving average price of $214.68 and a 200-day moving average price of $212.63. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%.Cintas's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, August 15th. Cintas's dividend payout ratio (DPR) is presently 40.82%.

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.