UNIVEST FINANCIAL Corp Acquires New Stake in Cintas Corporation $CTAS

UNIVEST FINANCIAL Corp bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,788 shares of the business services provider’s stock, valued at approximately $644,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. AMG National Trust Bank acquired a new position in shares of Cintas in the second quarter valued at approximately $1,973,000. Summit Global Investments acquired a new stake in Cintas during the 2nd quarter worth approximately $950,000. Oppenheimer Asset Management Inc. acquired a new stake in Cintas during the 2nd quarter worth approximately $4,972,000. Riverbridge Partners LLC boosted its position in Cintas by 7.7% in the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after buying an additional 16,437 shares during the period. Finally, SEB Asset Management AB purchased a new position in Cintas in the 1st quarter valued at approximately $22,366,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTAS shares. The Goldman Sachs Group restated a “buy” rating and issued a $231.00 price target on shares of Cintas in a research note on Wednesday, July 15th. UBS Group reiterated a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Truist Financial lowered their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.31.

Cintas Trading Down 0.9%

Shares of NASDAQ:CTAS opened at $197.82 on Tuesday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.87. The company’s 50 day moving average is $189.33 and its two-hundred day moving average is $184.70. 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 company has a market cap of $79.16 billion, a PE ratio of 52.89, a P/E/G ratio of 3.22 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last announced 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 business 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%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $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 fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This is a positive change from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Cintas’s dividend payout ratio (DPR) is presently 55.61%.

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.