Flputnam Investment Management Co. Acquires New Shares in Cintas Corporation $CTAS

Flputnam Investment Management Co. bought a new stake in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,884 shares of the business services provider’s stock, valued at approximately $831,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Cintas in the second quarter worth approximately $1,887,000. 1ST Source Bank bought a new position in shares of Cintas during the 2nd quarter valued at about $207,000. SCS Capital Management LLC purchased a new position in Cintas during the 2nd quarter valued at approximately $711,000. Bank of New York Mellon Corp purchased a new position in shares of Cintas in the second quarter valued at $644,334,000. Finally, Sandro Wealth Management LLC purchased a new position in shares of Cintas in the 2nd quarter worth $1,938,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CTAS shares. Truist Financial cut their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Wells Fargo & Company reissued an “overweight” rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. Finally, UBS Group reissued a “buy” rating and set a $230.00 target price (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat, Cintas has an average rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Stock Down 0.9%

CTAS opened at $197.82 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.87. The company has a fifty day moving average of $189.33 and a two-hundred day moving average of $184.70. The stock has a market capitalization of $79.16 billion, a price-to-earnings ratio of 52.89, a PEG ratio of 3.22 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $2.91 billion during 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 company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, research analysts expect that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. 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 dividend on an annualized basis and a yield of 1.1%. Cintas’s dividend payout ratio is currently 55.61%.

Cintas 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.