NewEdge Wealth LLC Sells 12,841 Shares of Cintas Corporation $CTAS

NewEdge Wealth LLC lowered its stake in Cintas Corporation (NASDAQ:CTAS) by 41.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,354 shares of the business services provider’s stock after selling 12,841 shares during the quarter. NewEdge Wealth LLC’s holdings in Cintas were worth $3,767,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Cintas by 2.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock valued at $20,501,000 after buying an additional 2,628 shares during the last quarter. Vanguard Group Inc. lifted its position in Cintas by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after acquiring an additional 564,487 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Cintas by 197.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 9,344 shares of the business services provider’s stock valued at $1,858,000 after acquiring an additional 6,202 shares in the last quarter. Scalar Gauge Management LLC boosted its stake in Cintas by 210.0% during the 3rd quarter. Scalar Gauge Management LLC now owns 31,000 shares of the business services provider’s stock valued at $6,363,000 after purchasing an additional 21,000 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in Cintas by 2.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 150,809 shares of the business services provider’s stock worth $30,955,000 after purchasing an additional 3,397 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird raised their target price on Cintas from $220.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Bank of America initiated coverage on Cintas in a research note on Tuesday. They set a “neutral” rating and a $215.00 price objective on the stock. Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and increased their target price for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Finally, UBS Group reissued a “buy” rating on shares of Cintas in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $218.17.

Cintas Trading Up 1.0%

NASDAQ CTAS opened at $200.02 on Friday. The business’s fifty day moving average is $192.03 and its 200-day moving average is $195.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.49. The stock has a market capitalization of $79.99 billion, a price-to-earnings ratio of 58.31, a PEG ratio of 3.57 and a beta of 0.95. Cintas Corporation has a one year low of $180.39 and a one year high of $229.24.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 18th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.77 billion. Cintas had a net margin of 17.58% and a return on equity of 41.07%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. Cintas has set its FY 2026 guidance at 4.810-4.880 EPS. Equities research analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 13th. Cintas’s dividend payout ratio (DPR) is currently 52.48%.

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.