Cintas Corporation $CTAS Shares Sold by DNB Asset Management AS

DNB Asset Management AS reduced its position in shares of Cintas Corporation (NASDAQ:CTAS) by 12.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,606 shares of the business services provider’s stock after selling 16,977 shares during the period. DNB Asset Management AS’s holdings in Cintas were worth $27,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Cintas during the 1st quarter valued at about $1,877,760,000. Voya Investment Management LLC lifted its stake in Cintas by 516.8% during the first quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider’s stock valued at $175,529,000 after purchasing an additional 715,570 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Cintas by 90.1% during the second quarter. Los Angeles Capital Management LLC now owns 1,214,098 shares of the business services provider’s stock worth $270,586,000 after buying an additional 575,372 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Cintas by 169.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider’s stock worth $187,235,000 after buying an additional 573,151 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Cintas by 1.4% in the second quarter. Vanguard Group Inc. now owns 38,384,133 shares of the business services provider’s stock valued at $8,554,672,000 after buying an additional 524,829 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 1.4%

Shares of NASDAQ CTAS opened at $185.80 on Friday. 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 one year low of $180.39 and a one year high of $229.24. The business has a 50-day moving average price of $192.15 and a two-hundred day moving average price of $209.36. The firm has a market capitalization of $74.67 billion, a PE ratio of 42.13, a PEG ratio of 3.18 and a beta of 0.99.

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

Cintas declared that its board has authorized a share buyback program on Tuesday, October 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 40.82%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTAS. Sanford C. Bernstein began coverage on Cintas in a research note on Wednesday, November 12th. They set a “market perform” rating and a $200.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Cintas in a report on Wednesday. Redburn Partners set a $184.00 price objective on shares of Cintas in a research note on Tuesday, November 11th. Finally, Citigroup lifted their target price on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $215.07.

Cintas Company Profile

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.