Saudi Central Bank Buys 10,521 Shares of Cintas Corporation $CTAS

Saudi Central Bank raised its stake in Cintas Corporation (NASDAQ:CTAS) by 79.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,805 shares of the business services provider’s stock after acquiring an additional 10,521 shares during the quarter. Saudi Central Bank’s holdings in Cintas were worth $4,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hutchens & Kramer Investment Management Group LLC lifted its stake in Cintas by 12.4% in the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,920 shares of the business services provider’s stock valued at $667,000 after purchasing an additional 433 shares during the last quarter. Angeles Wealth Management LLC increased its position in Cintas by 4.6% in the second quarter. Angeles Wealth Management LLC now owns 17,159 shares of the business services provider’s stock worth $2,918,000 after buying an additional 757 shares during the last quarter. NBH Bank bought a new stake in shares of Cintas in the second quarter valued at $47,000. Highland Investment Advisors LLC purchased a new position in shares of Cintas during the 2nd quarter valued at $32,000. Finally, Plan A Wealth LLC bought a new position in shares of Cintas during the 2nd quarter worth $216,000. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTAS. Robert W. Baird boosted their price objective on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. 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 report on Thursday, July 16th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Price Performance

CTAS opened at $200.47 on Monday. The business’s fifty day simple moving average is $197.47 and its 200 day simple moving average is $185.59. Cintas Corporation has a 52 week low of $161.16 and a 52 week 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 stock has a market cap of $80.22 billion, a PE ratio of 53.60, a P/E/G ratio of 3.24 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts expect 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 given a dividend of $0.52 per share. The ex-dividend date 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 dividend payout ratio (DPR) is 55.61%.

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.