Corient Private Wealth LP Acquires New Holdings in Cintas Corporation $CTAS

Corient Private Wealth LP bought a new stake in Cintas Corporation (NASDAQ:CTAS) during the second quarter, Holdings Channel.com reports. The institutional investor bought 231,517 shares of the business services provider’s stock, valued at approximately $39,377,000.

Several other hedge funds also recently bought and sold shares of CTAS. Nemes Rush Group LLC acquired a new stake in shares of Cintas during the fourth quarter valued at about $25,000. First United Bank & Trust acquired a new position in shares of Cintas in the 1st quarter worth approximately $25,000. Whipplewood Advisors LLC boosted its position in shares of Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after purchasing an additional 137 shares during the period. Swiss RE Ltd. acquired a new stake in Cintas in the 4th quarter valued at approximately $25,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Cintas in the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $204.15 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 $193.76 and a 200-day simple moving average of $185.38. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. The stock has a market capitalization of $81.69 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 3.32 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data 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 analyst estimates of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities analysts predict that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The company 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. This is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s dividend payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CTAS shares. Argus upgraded Cintas to a “strong-buy” rating in a research note on Friday, July 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $231.00 price target on shares of Cintas in a report on Wednesday, July 15th. Truist Financial dropped their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $212.31.

About Cintas

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.