Ieq Capital LLC Buys New Shares in Cintas Corporation $CTAS

Ieq Capital LLC bought a new position in Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 23,835 shares of the business services provider’s stock, valued at approximately $4,054,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CTAS. AMG National Trust Bank purchased a new position in Cintas in the 2nd quarter worth approximately $1,973,000. Summit Global Investments bought a new stake in shares of Cintas during the second quarter valued at approximately $950,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Cintas in the second quarter worth $4,972,000. TimesSquare Capital Management LLC purchased a new position in shares of Cintas in the second quarter worth $62,057,000. Finally, Riverbridge Partners LLC boosted its position in shares of Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after acquiring an additional 16,437 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Friday, July 17th. UBS Group reiterated a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research note 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. According to MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Price Performance

CTAS stock opened at $207.40 on Tuesday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $191.81 and a two-hundred day simple moving average of $185.16. The firm has a market capitalization of $83.00 billion, a P/E ratio of 55.45, a price-to-earnings-growth ratio of 3.29 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed 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 is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s payout ratio is presently 55.61%.

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.