Stoneridge Investment Partners LLC Invests $622,000 in Cintas Corporation $CTAS

Stoneridge Investment Partners LLC purchased 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 & Exchange Commission. The firm purchased 3,041 shares of the business services provider’s stock, valued at approximately $622,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in shares of Cintas in the 2nd quarter valued at approximately $284,000. Maridea Wealth Management LLC purchased a new stake in shares of Cintas during the second quarter worth approximately $333,000. Summit Global Investments purchased a new stake in shares of Cintas during the second quarter worth approximately $950,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cintas during the second quarter worth approximately $4,972,000. Finally, Dockside LLC acquired a new stake in shares of Cintas during the second quarter worth $600,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 0.6%

CTAS opened at $199.52 on Friday. 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 has a 50 day simple moving average of $188.85 and a 200-day simple moving average of $184.71. The stock has a market capitalization of $79.84 billion, a P/E ratio of 53.35, a P/E/G ratio of 3.22 and a beta of 0.92. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $221.36.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating 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 return on equity of 42.05% and a net margin of 17.75%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is presently 48.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CTAS shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $231.00 price objective on shares of Cintas in a research report on Wednesday, July 15th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. UBS Group restated a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Robert W. Baird lifted their target price on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas 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.