NewEdge Wealth LLC Sells 12,841 Shares of Cintas Corporation $CTAS

NewEdge Wealth LLC lowered its holdings in Cintas Corporation (NASDAQ:CTAS) by 41.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,354 shares of the business services provider’s stock after selling 12,841 shares during the period. NewEdge Wealth LLC’s holdings in Cintas were worth $3,767,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CTAS. Barnes Dennig Private Wealth Management LLC grew its stake in Cintas by 800.0% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock valued at $32,000 after buying an additional 128 shares in the last quarter. Alpine Bank Wealth Management lifted its position in shares of Cintas by 1,092.9% during the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock worth $34,000 after acquiring an additional 153 shares in the last quarter. WPG Advisers LLC boosted its holdings in shares of Cintas by 90.0% in the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock worth $35,000 after acquiring an additional 81 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Cintas by 3,925.0% in the second quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock worth $36,000 after acquiring an additional 157 shares during the period. Finally, Addison Advisors LLC grew its position in shares of Cintas by 57.0% in the second quarter. Addison Advisors LLC now owns 168 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 61 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent research reports. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and upped their price target for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. UBS Group reissued a “buy” rating on shares of Cintas in a report on Friday, December 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research note on Friday, December 19th. Finally, Bank of America began coverage on shares of Cintas in a report on Tuesday. They set a “neutral” rating and a $215.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $218.17.

Cintas Trading Up 1.0%

Shares of Cintas stock opened at $200.02 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.49. Cintas Corporation has a 1 year low of $180.39 and a 1 year high of $229.24. The firm has a market cap of $79.99 billion, a PE ratio of 58.31, a PEG ratio of 3.57 and a beta of 0.95. The company has a 50 day simple moving average of $192.03 and a two-hundred day simple moving average of $195.63.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 18th. The business services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Cintas had a net margin of 17.58% and a return on equity of 41.07%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company posted $1.09 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.810-4.880 EPS. Analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.80 annualized dividend and a yield of 0.9%. Cintas’s payout ratio is 52.48%.

Cintas declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

About Cintas

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.