339,014 Shares in Cintas Corporation $CTAS Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, HoldingsChannel.com reports. The fund purchased 339,014 shares of the business services provider’s stock, valued at approximately $57,660,000.

A number of other hedge funds also recently made changes to their positions in CTAS. AMG National Trust Bank acquired a new position in Cintas during the second quarter valued at approximately $1,973,000. Summit Global Investments acquired a new stake in shares of Cintas in the second quarter worth $950,000. Oppenheimer Asset Management Inc. acquired a new stake 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 2nd quarter valued at $62,057,000. Finally, Riverbridge Partners LLC raised its stake in shares of Cintas by 7.7% in the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after acquiring an additional 16,437 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research report on Thursday, July 16th. Argus raised Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $203.79 on Monday. The firm has a market cap of $81.55 billion, a PE ratio of 54.49, a price-to-earnings-growth ratio of 3.29 and a beta of 0.91. The company has a fifty day simple moving average of $191.16 and a 200 day simple moving average of $185.04. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating 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 firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities research analysts anticipate that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently declared 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. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. Cintas’s payout ratio is 55.61%.

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.