Perigon Wealth Management LLC Makes New $802,000 Investment in Cintas Corporation $CTAS

Perigon Wealth Management LLC purchased a new stake in Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,715 shares of the business services provider’s stock, valued at approximately $802,000.

Other institutional investors also recently made changes to their positions in the company. Nemes Rush Group LLC acquired a new stake in shares of Cintas during the 4th quarter worth $25,000. First United Bank & Trust acquired a new position in Cintas in the first quarter valued at $25,000. Whipplewood Advisors LLC grew its position in Cintas by 1,712.5% during the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 137 shares during the period. Swiss RE Ltd. acquired a new stake in Cintas during the fourth quarter worth about $25,000. Finally, Camelot Portfolios LLC acquired a new stake in Cintas during the fourth quarter worth about $26,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 0.8%

Shares of CTAS opened at $199.45 on Wednesday. The stock’s 50-day moving average is $189.72 and its two-hundred day moving average is $184.77. The stock has a market cap of $79.81 billion, a PE ratio of 53.33, a P/E/G ratio of 3.22 and a beta of 0.91. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

Cintas (NASDAQ:CTAS) last posted 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. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities analysts forecast 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. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. 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. Cintas’s dividend payout ratio is 55.61%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTAS. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $231.00 price objective on shares of Cintas in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.

About Cintas

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.