700,157 Shares in Cintas Corporation $CTAS Purchased by Man Group plc

Man Group plc bought a new stake in Cintas Corporation (NASDAQ:CTAS) during the second quarter, HoldingsChannel.com reports. The fund bought 700,157 shares of the business services provider’s stock, valued at approximately $119,083,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Cintas in the second quarter worth $4,520,425,000. Norges Bank bought a new position in Cintas in the fourth quarter valued at $923,672,000. Bank of New York Mellon Corp bought a new position in Cintas in the second quarter valued at $644,334,000. Legal & General Group Plc acquired a new stake in Cintas in the 2nd quarter valued at $386,159,000. Finally, Deutsche Bank AG acquired a new stake in Cintas in the 2nd quarter valued at $204,831,000. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $204.76 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average price is $192.37 and its two-hundred day moving average price is $185.24. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16. The firm has a market capitalization of $81.94 billion, a P/E ratio of 54.75, a price-to-earnings-growth ratio of 3.35 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts anticipate that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on CTAS shares. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Robert W. Baird raised their price objective on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Argus raised Cintas to a “strong-buy” rating in a research report on Friday, July 17th. UBS Group reiterated a “buy” rating and set a $230.00 target price (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $231.00 price target on shares of Cintas in a research report on Wednesday, July 15th. 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 issued a Sell rating to the stock. According to MarketBeat, Cintas currently has a consensus rating of “Moderate Buy” and a consensus 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.