TD Waterhouse Canada Inc. Increases Stock Position in Cintas Corporation $CTAS

TD Waterhouse Canada Inc. increased its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 115.5% during the second quarter, Holdings Channel.com reports. The fund owned 29,734 shares of the business services provider’s stock after buying an additional 15,939 shares during the period. TD Waterhouse Canada Inc.’s holdings in Cintas were worth $5,180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. BlackRock Inc. acquired a new position in shares of Cintas during the second quarter valued at approximately $4,520,425,000. Norges Bank acquired a new position in shares of Cintas during the 4th quarter valued at about $923,672,000. Bank of New York Mellon Corp purchased a new stake in shares of Cintas in the 2nd quarter valued at approximately $644,334,000. Legal & General Group Plc purchased a new position in Cintas in the second quarter worth approximately $386,159,000. Finally, Bank of America Corp DE acquired a new stake in shares of Cintas during the 2nd quarter worth about $233,111,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CTAS shares. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, Truist Financial cut their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

NASDAQ:CTAS opened at $200.47 on Monday. The stock has a fifty day moving average price of $197.47 and a two-hundred day moving average price of $185.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. The stock has a market capitalization of $80.22 billion, a price-to-earnings ratio of 53.60, a PEG ratio of 3.24 and a beta of 0.91. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’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. As a group, sell-side analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is presently 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.