Ieq Capital LLC Makes New $4.05 Million Investment in Cintas Corporation $CTAS

Ieq Capital LLC acquired a new position in Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,835 shares of the business services provider’s stock, valued at approximately $4,054,000.

Other institutional investors also recently made changes to their positions in the company. AMG National Trust Bank purchased a new position in Cintas in the 2nd quarter worth approximately $1,973,000. Summit Global Investments purchased a new stake in shares of Cintas during the second quarter valued at approximately $950,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cintas during the second quarter valued at approximately $4,972,000. TimesSquare Capital Management LLC bought a new position in shares of Cintas in the second quarter worth approximately $62,057,000. Finally, Riverbridge Partners LLC increased its stake in shares of Cintas by 7.7% in the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after buying an additional 16,437 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Cintas stock opened at $207.40 on Tuesday. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $83.00 billion, a P/E ratio of 55.45, a PEG ratio of 3.29 and a beta of 0.92. The stock’s 50 day moving average is $191.81 and its 200 day moving average is $185.16.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Cintas’s revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities research analysts predict that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CTAS shares. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. Finally, Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.