Royal London Asset Management Ltd. Sells 3,547 Shares of Cintas Corporation $CTAS

Royal London Asset Management Ltd. lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 173,588 shares of the business services provider’s stock after selling 3,547 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cintas were worth $29,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nemes Rush Group LLC acquired a new position in shares of Cintas in the 4th quarter valued at $25,000. First United Bank & Trust acquired a new stake in shares of Cintas during the first quarter worth $25,000. Whipplewood Advisors LLC grew its stake in shares of Cintas by 1,712.5% during the first 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. bought a new stake in Cintas in the fourth quarter valued at about $25,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Cintas in the fourth quarter valued at about $26,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.0%

NASDAQ CTAS opened at $204.18 on Friday. The firm has a market cap of $81.71 billion, a P/E ratio of 54.59, a P/E/G ratio of 3.30 and a beta of 0.92. 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 stock’s 50-day moving average is $194.43 and its 200-day moving average is $185.51. Cintas Corporation has a one year low of $161.16 and a one year high of $219.16.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the firm earned $1.09 EPS. Cintas’s quarterly 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. Sell-side analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business 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 $0.52 dividend. The ex-dividend date of this dividend 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 payout ratio is presently 55.61%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CTAS shares. UBS Group restated 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. Argus raised Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Truist Financial reduced their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. 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 investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently 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.