Canada Pension Plan Investment Board Purchases Shares of 380,644 Cintas Corporation $CTAS

Canada Pension Plan Investment Board purchased a new position in Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 380,644 shares of the business services provider’s stock, valued at approximately $64,740,000. Canada Pension Plan Investment Board owned about 0.10% of Cintas at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after purchasing an additional 108 shares during the period. Sivia Capital Partners LLC raised its position in shares of Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after buying an additional 428 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Cintas in the 2nd quarter valued at $625,000. Treasurer of the State of North Carolina grew its holdings in shares of Cintas by 20.3% in the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after purchasing an additional 35,781 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after purchasing an additional 31,068 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS opened at $204.15 on Friday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The stock has a market cap of $81.69 billion, a P/E ratio of 54.59, a PEG ratio of 3.32 and a beta of 0.92. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $193.76 and a two-hundred day moving average of $185.38.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 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 analyst estimates of $2.87 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts predict that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date 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 currently 55.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CTAS shares. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. UBS Group reaffirmed a “buy” rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. 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. Finally, The Goldman Sachs Group restated a “buy” rating and set a $231.00 price target on shares of Cintas in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus 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.