NEOS Investment Management LLC Has $50.13 Million Holdings in Cintas Corporation $CTAS

NEOS Investment Management LLC raised its position in shares of Cintas Corporation (NASDAQ:CTAS) by 8.2% in the second quarter, HoldingsChannel reports. The fund owned 294,774 shares of the business services provider’s stock after acquiring an additional 22,235 shares during the period. NEOS Investment Management LLC’s holdings in Cintas were worth $50,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. Brighton Jones LLC lifted its holdings in Cintas by 9.3% during 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 last quarter. Sivia Capital Partners LLC grew its holdings in Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after buying an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Cintas in the 2nd quarter valued at $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 buying an additional 35,781 shares during the period. Finally, Ieq Capital LLC increased its position in Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after buying an additional 31,068 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 1.5%

CTAS stock opened at $201.05 on Friday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The business has a 50-day simple moving average of $196.89 and a 200 day simple moving average of $185.54. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The company has a market cap of $80.45 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 3.20 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Sell-side analysts anticipate that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

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

Analysts Set New Price Targets

CTAS has been the subject of a number of recent research reports. UBS Group reissued a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating 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 price objective for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. Finally, Truist Financial decreased their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Company Profile

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.