The Manufacturers Life Insurance Company Buys Shares of 215,084 Cintas Corporation $CTAS

Key Points

• The Manufacturers Life Insurance Company acquired 215,084 Cintas shares worth approximately $36.6 million, joining institutional investors that collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS and $2.91 billion in revenue, with revenue up 8.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $212.31.
• Cintas increased its quarterly dividend to $0.52 per share, or $2.08 annually, representing a 1.0% yield and a 55.61% payout ratio.

The Manufacturers Life Insurance Company purchased a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 215,084 shares of the business services provider's stock, valued at approximately $36,581,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Cintas as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. Nemes Rush Group LLC purchased a new position in Cintas during the 4th quarter valued at about $25,000. First United Bank & Trust purchased a new stake in shares of Cintas in the first quarter valued at about $25,000. Whipplewood Advisors LLC lifted its holdings in shares of Cintas by 1,712.5% in the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider's stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Swiss RE Ltd. acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $25,000. Finally, Camelot Portfolios LLC acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTAS. Royal Bank Of Canada restated a "sector perform" rating and set a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Wells Fargo & Company reiterated 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. Weiss Ratings raised Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Argus raised Cintas to a "strong-buy" rating in a report on Friday, July 17th. Finally, Robert W. Baird upped their price objective on Cintas from $200.00 to $214.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cintas currently has an average rating of "Moderate Buy" and an average price target of $212.31.

Cintas Stock Performance

NASDAQ:CTAS opened at $205.78 on Thursday. The firm has a 50 day simple moving average of $193.10 and a 200-day simple moving average of $185.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a market cap of $82.35 billion, a PE ratio of 55.02, a P/E/G ratio of 3.31 and a beta of 0.92. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16.

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

Cintas Increases Dividend

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

Cintas 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.

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