380,644 Shares in Cintas Corporation $CTAS Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 380,644 shares of the business services provider’s stock, valued at approximately $64,740,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after purchasing an additional 108 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after purchasing an additional 428 shares during the period. Gamco Investors INC. ET AL acquired a new stake in Cintas during the 2nd quarter worth approximately $625,000. Treasurer of the State of North Carolina increased its position in Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after buying an additional 31,068 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

CTAS opened at $204.15 on Friday. The company has a fifty day simple moving average of $193.76 and a 200 day simple moving average of $185.38. The firm has a market cap of $81.69 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.32 and a beta of 0.92. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. 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 (NASDAQ:CTAS) last issued 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. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts expect that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.52 dividend. This is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s dividend payout ratio (DPR) is currently 55.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $231.00 price target on shares of Cintas in a research report on Wednesday, July 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Finally, UBS Group reiterated a “buy” rating and issued a $230.00 price target (up from $228.00) 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 issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cintas has an average rating of “Moderate Buy” and an average price target of $212.31.

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.