Cintas Corporation $CTAS Shares Purchased by Suncoast Equity Management

by · The Cerbat Gem

Suncoast Equity Management grew its stake in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 4.7% during the second quarter, Holdings Channel reports. The firm owned 15,035 shares of the business services provider’s stock after purchasing an additional 681 shares during the period. Suncoast Equity Management’s holdings in Cintas were worth $3,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Cintas by 1.3% during the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider’s stock worth $7,781,223,000 after purchasing an additional 491,307 shares in the last quarter. Nuveen LLC acquired a new stake in Cintas during the first quarter worth approximately $1,877,760,000. Northern Trust Corp raised its holdings in Cintas by 0.7% during the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider’s stock worth $841,749,000 after purchasing an additional 28,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cintas by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,877,309 shares of the business services provider’s stock worth $591,373,000 after purchasing an additional 59,162 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Cintas by 17.4% during the first quarter. Ameriprise Financial Inc. now owns 2,615,330 shares of the business services provider’s stock worth $538,303,000 after purchasing an additional 386,721 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $185.81 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.94 and a current ratio of 2.24. The stock has a market capitalization of $74.67 billion, a P/E ratio of 42.13, a P/E/G ratio of 3.18 and a beta of 0.99. The company’s fifty day moving average is $197.01 and its two-hundred day moving average is $211.33. Cintas Corporation has a 1 year low of $180.39 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS – Get Free Report) last announced its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. Cintas’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, sell-side analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 14th. Cintas’s payout ratio is currently 40.82%.

Cintas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 28th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Cintas in a report on Wednesday, October 8th. Robert W. Baird lifted their target price on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Royal Bank Of Canada cut their target price on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and a consensus target price of $222.09.

Check Out Our Latest Stock Report on Cintas

About Cintas

(Free Report)

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.

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