E Fund Management Co. Ltd. Purchases Shares of 15,361 Cintas Corporation $CTAS

E Fund Management Co. Ltd. bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, Holdings Channel.com reports. The fund bought 15,361 shares of the business services provider’s stock, valued at approximately $2,613,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. BlackRock Inc. acquired a new position in Cintas during the 2nd quarter worth approximately $4,520,425,000. Norges Bank acquired a new stake in shares of Cintas in the 4th quarter valued at $923,672,000. Bank of New York Mellon Corp acquired a new position in shares of Cintas during the second quarter worth $644,334,000. Deutsche Bank AG purchased a new position in Cintas in the second quarter valued at $204,831,000. Finally, Two Sigma Investments LP lifted its holdings in Cintas by 5,641.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after buying an additional 998,963 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.8%

CTAS opened at $203.08 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.87. The stock has a market capitalization of $81.27 billion, a P/E ratio of 54.30, a P/E/G ratio of 3.22 and a beta of 0.92. The business has a 50 day simple moving average of $190.18 and a 200-day simple moving average of $184.86.

Cintas (NASDAQ:CTAS) last issued 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. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the firm earned $1.09 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is presently 55.61%.

Analyst Ratings Changes

CTAS has been the topic of several recent analyst reports. Truist Financial dropped their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. UBS Group restated a “buy” rating and issued a $230.00 price objective (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.31.

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.