Flputnam Investment Management Co. Makes New $831,000 Investment in Cintas Corporation $CTAS

Flputnam Investment Management Co. acquired a new stake in Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,884 shares of the business services provider’s stock, valued at approximately $831,000.

A number of other hedge funds have also recently modified their holdings of CTAS. Global Retirement Partners LLC purchased a new position in Cintas during the 2nd quarter worth approximately $1,887,000. 1ST Source Bank acquired a new position in Cintas in the 2nd quarter valued at $207,000. SCS Capital Management LLC acquired a new position in shares of Cintas during the second quarter worth about $711,000. Bank of New York Mellon Corp acquired a new position in Cintas during the 2nd quarter worth approximately $644,334,000. Finally, Sandro Wealth Management LLC purchased a new position in Cintas in the second quarter worth $1,938,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Cintas stock opened at $197.82 on Tuesday. The stock has a fifty day moving average price of $189.33 and a 200 day moving average price of $184.70. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.87. The firm has a market capitalization of $79.16 billion, a P/E ratio of 52.89, a PEG ratio of 3.22 and a beta of 0.91. 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 released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Robert W. Baird increased their price objective on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and an average target price 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.