Handelsbanken Fonder AB Lowers Stock Holdings in Cintas Corporation $CTAS

Handelsbanken Fonder AB cut its position in Cintas Corporation (NASDAQ:CTAS) by 5.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 117,263 shares of the business services provider’s stock after selling 7,036 shares during the period. Handelsbanken Fonder AB’s holdings in Cintas were worth $19,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Cintas during the 4th quarter valued at about $923,672,000. Two Sigma Investments LP grew its position in Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after acquiring an additional 998,963 shares in the last quarter. Voloridge Investment Management LLC increased its stake in Cintas by 275.2% during the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after purchasing an additional 823,885 shares during the period. Freestone Grove Partners LP lifted its position in shares of Cintas by 5,341.8% during the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after purchasing an additional 733,380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Cintas by 2,286.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock worth $138,536,000 after purchasing an additional 705,751 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research note on Thursday, July 16th. Truist Financial reduced their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Finally, Robert W. Baird upped their price objective on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Trading Down 0.9%

NASDAQ CTAS opened at $203.51 on Thursday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $225.85. The firm has a 50 day moving average of $188.04 and a two-hundred day moving average of $184.56. 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 capitalization of $81.44 billion, a PE ratio of 54.41, a price-to-earnings-growth ratio of 3.31 and a beta of 0.92.

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. As a group, research analysts expect that Cintas Corporation will post 5.49 EPS 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 paid a $0.52 dividend. This is a boost 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%. The ex-dividend date is Friday, August 14th. Cintas’s payout ratio is 48.13%.

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.