Progressive Investment Management Corp Lowers Holdings in Cintas Corporation $CTAS

Progressive Investment Management Corp trimmed its holdings in Cintas Corporation (NASDAQ:CTAS) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,768 shares of the business services provider’s stock after selling 171 shares during the quarter. Progressive Investment Management Corp’s holdings in Cintas were worth $1,954,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Alpha Financial Partners LLC boosted its holdings in Cintas by 2.9% in the second quarter. Alpha Financial Partners LLC now owns 1,602 shares of the business services provider’s stock valued at $357,000 after purchasing an additional 45 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider’s stock worth $258,000 after acquiring an additional 47 shares in the last quarter. Oarsman Capital Inc. boosted its stake in shares of Cintas by 3.9% during the 1st quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider’s stock worth $272,000 after acquiring an additional 49 shares in the last quarter. Independent Wealth Network Inc. boosted its stake in shares of Cintas by 4.8% during the 2nd quarter. Independent Wealth Network Inc. now owns 1,077 shares of the business services provider’s stock worth $240,000 after acquiring an additional 49 shares in the last quarter. Finally, PDS Planning Inc boosted its stake in shares of Cintas by 2.0% during the 2nd quarter. PDS Planning Inc now owns 2,508 shares of the business services provider’s stock worth $559,000 after acquiring an additional 49 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the topic of several recent analyst reports. Robert W. Baird increased their target price on shares of Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. lowered their target price on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Citigroup increased their target price on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, September 26th. UBS Group raised their price target on shares of Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada decreased their price target on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $222.09.

Cintas Trading Up 2.0%

Shares of Cintas stock opened at $188.10 on Friday. The firm has a market capitalization of $75.59 billion, a PE ratio of 42.65, a P/E/G ratio of 3.19 and a beta of 1.01. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The firm’s 50-day moving average price is $204.61 and its 200 day moving average price is $212.41.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. Cintas’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, sell-side analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $0.39. Cintas’s payout ratio is currently 40.82%.

Insider Buying and Selling at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the sale, the director owned 21,945 shares in the company, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer owned 622,712 shares of the company’s stock, valued at $137,557,080.80. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. 14.90% of the stock is owned by insiders.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.