6,873 Shares in Cintas Corporation $CTAS Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,873 shares of the business services provider’s stock, valued at approximately $1,169,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Capital Management LLC bought a new position in shares of Cintas in the second quarter worth about $888,000. MJP Associates Inc. ADV bought a new stake in shares of Cintas during the second quarter valued at approximately $371,000. PCM Encore LLC acquired a new stake in shares of Cintas in the second quarter valued at approximately $591,000. Vise Technologies Inc. acquired a new stake in shares of Cintas in the second quarter valued at approximately $6,690,000. Finally, Algebris UK Ltd. bought a new position in Cintas in the 2nd quarter worth approximately $1,079,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the topic of several research reports. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. Finally, Truist Financial lowered their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Trading Up 0.2%

NASDAQ:CTAS opened at $203.52 on Friday. The stock has a market capitalization of $81.44 billion, a PE ratio of 54.42, a price-to-earnings-growth ratio of 3.28 and a beta of 0.92. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The business’s 50-day simple moving average is $190.61 and its 200-day simple moving average is $184.95.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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. The company had revenue of $2.91 billion during 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 firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Sell-side analysts expect that Cintas Corporation will post 5.49 earnings per share for the current fiscal 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 given a dividend of $0.52 per share. This is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s payout ratio is currently 55.61%.

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.