Nippon Life Global Investors Americas Inc. Makes New Investment in Cintas Corporation $CTAS

Nippon Life Global Investors Americas Inc. bought a new position in Cintas Corporation (NASDAQ:CTAS) during the second quarter, HoldingsChannel.com reports. The fund bought 6,440 shares of the business services provider’s stock, valued at approximately $1,095,000.

Other institutional investors have also recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new position in Cintas in the fourth quarter worth about $25,000. First United Bank & Trust bought a new stake in shares of Cintas in the 1st quarter valued at approximately $25,000. Whipplewood Advisors LLC lifted its stake in shares of Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Swiss RE Ltd. purchased a new position in shares of Cintas in the 4th quarter worth approximately $25,000. Finally, Camelot Portfolios LLC purchased a new position in shares of Cintas in the 4th quarter worth approximately $26,000. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTAS shares. 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research note on Thursday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and set a $231.00 price objective on shares of Cintas in a research report on Wednesday, July 15th. Robert W. Baird increased their target price 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 reduced their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Stock Performance

CTAS opened at $199.52 on Monday. 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’s 50 day moving average price is $188.85 and its 200-day moving average price is $184.65. Cintas Corporation has a one year low of $161.16 and a one year high of $221.36. The stock has a market cap of $79.84 billion, a price-to-earnings ratio of 53.35, a P/E/G ratio of 3.22 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the company earned $1.09 EPS. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts forecast that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s dividend payout ratio is 55.61%.

About Cintas

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.