Empowered Funds LLC Invests $6.92 Million in Cintas Corporation $CTAS

Empowered Funds LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 40,701 shares of the business services provider’s stock, valued at approximately $6,922,000.

Several other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after buying an additional 108 shares during the period. Sivia Capital Partners LLC lifted its stake in Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after acquiring an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas during the 2nd quarter worth about $625,000. Treasurer of the State of North Carolina grew its stake in Cintas by 20.3% during the 2nd 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 acquiring an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC grew its stake in Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after acquiring an additional 31,068 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTAS. Robert W. Baird increased their price target on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Truist Financial decreased their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 price target on shares of Cintas in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

Cintas stock opened at $204.18 on Monday. Cintas Corporation has a one year low of $161.16 and a one year high of $219.16. The company’s fifty day moving average price is $194.43 and its two-hundred day moving average price is $185.45. 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 company has a market capitalization of $81.71 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.30 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The company’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, analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is currently 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.