Plato Investment Management Ltd Makes New $1 Million Investment in Cintas Corporation $CTAS

Plato Investment Management Ltd acquired a new stake in Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,914 shares of the business services provider’s stock, valued at approximately $1,000,000.

Several other large investors also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Cintas by 1.4% during the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after buying an additional 210,477 shares during the last quarter. Geode Capital Management LLC grew its stake in Cintas by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after buying an additional 97,220 shares during the last quarter. Norges Bank bought a new position in Cintas in the 4th quarter valued at about $923,672,000. Morgan Stanley raised its holdings in Cintas by 0.8% in the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock valued at $826,214,000 after acquiring an additional 36,666 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Cintas during the second quarter worth approximately $644,334,000. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CTAS shares. Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. The Goldman Sachs Group reissued a “buy” rating and set a $231.00 price target on shares of Cintas in a report on Wednesday, July 15th. UBS Group restated a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Stock Up 0.8%

NASDAQ CTAS opened at $199.45 on Wednesday. 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 1-year low of $161.16 and a 1-year high of $219.87. The company has a market cap of $79.81 billion, a price-to-earnings ratio of 53.33, a PEG ratio of 3.22 and a beta of 0.91. The company has a 50 day moving average of $189.72 and a 200-day moving average of $184.77.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. Cintas’s 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 research analysts expect that Cintas Corporation will post 5.49 earnings per share 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 given a dividend of $0.52 per share. 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 positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) 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.