TD Asset Management Inc trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 735,696 shares of the business services provider’s stock after selling 68,494 shares during the period. TD Asset Management Inc’s holdings in Cintas were worth $163,965,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. WPG Advisers LLC bought a new position in shares of Cintas in the first quarter worth $27,000. Saudi Central Bank bought a new position in shares of Cintas in the first quarter worth $29,000. Stone House Investment Management LLC bought a new position in shares of Cintas in the first quarter worth $41,000. Resources Management Corp CT ADV bought a new position in shares of Cintas in the first quarter worth $41,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock worth $43,000 after acquiring an additional 181 shares during the period. 63.46% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on CTAS shares. Wells Fargo & Company cut their price target on Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Citigroup raised their price target on Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a report on Friday, September 26th. Royal Bank Of Canada dropped their price objective on Cintas from $240.00 to $206.00 and set a “sector perform” rating for the company in a research note on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Cintas in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Cintas currently has an average rating of “Hold” and an average target price of $222.09.
Cintas Trading Up 0.2%
NASDAQ CTAS opened at $188.23 on Wednesday. The stock’s 50-day simple moving average is $206.89 and its two-hundred day simple moving average is $212.86. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $75.64 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 3.25 and a beta of 1.01.
Cintas (NASDAQ:CTAS – Get Free Report) last released its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Research analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.
Cintas Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 40.82%.
Insider Buying and Selling at Cintas
In other news, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the transaction, the director owned 21,945 shares in the company, valued at approximately $4,904,049.15. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Mucci acquired 1,200 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was bought at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director owned 2,621 shares of the company’s stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 14.90% of the company’s stock.
Cintas Profile
Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.
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