Legal & General Group Plc Purchases New Shares in Cintas Corporation $CTAS

Legal & General Group Plc purchased a new position in Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,270,454 shares of the business services provider’s stock, valued at approximately $386,159,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after buying an additional 108 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after acquiring an additional 428 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Cintas in the second quarter worth approximately $625,000. Treasurer of the State of North Carolina raised its holdings in shares of Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after acquiring an additional 35,781 shares during the period. Finally, Ieq Capital LLC raised its holdings in shares of Cintas by 50.2% during the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after acquiring an additional 31,068 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 1.3%

CTAS stock opened at $204.76 on Wednesday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The company has a market cap of $81.94 billion, a price-to-earnings ratio of 54.75, a PEG ratio of 3.35 and a beta of 0.92. The company has a 50 day moving average of $192.37 and a two-hundred day moving average of $185.24.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the business posted $1.09 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change 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 55.61%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Truist Financial cut their target price 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. Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. Robert W. Baird raised their target price on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.