Public Employees Retirement System of Ohio Acquires New Stake in Cintas Corporation $CTAS

Public Employees Retirement System of Ohio acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 148,047 shares of the business services provider’s stock, valued at approximately $25,180,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Cintas in the 2nd quarter valued at approximately $4,520,425,000. State Street Corp lifted its holdings in shares of Cintas by 1.4% in the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock valued at $2,879,632,000 after buying an additional 210,477 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cintas by 1.1% in the fourth 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 in the last quarter. Norges Bank acquired a new stake in Cintas in the fourth quarter valued at $923,672,000. Finally, Morgan Stanley boosted its position in shares of Cintas by 0.8% during the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.0%

NASDAQ CTAS opened at $204.18 on Friday. The company has a market cap of $81.71 billion, a P/E ratio of 54.59, a P/E/G ratio of 3.30 and a beta of 0.92. Cintas Corporation has a 12 month low of $161.16 and a 12 month 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 company has a 50-day moving average of $194.43 and a 200-day moving average of $185.51.

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. As a group, equities analysts predict that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is presently 55.61%.

Analysts Set New Price Targets

A number of analysts recently commented on CTAS shares. The Goldman Sachs Group reissued a “buy” rating and set a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. UBS Group restated 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. Robert W. Baird lifted their price objective on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Bank of America raised Cintas from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cintas 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.