NewEdge Wealth LLC Makes New Investment in Cintas Corporation $CTAS

NewEdge Wealth LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,080 shares of the business services provider’s stock, valued at approximately $3,415,000.

Several other large investors have also recently bought and sold shares of the stock. Nemes Rush Group LLC bought a new position in Cintas during the fourth quarter valued at about $25,000. First United Bank & Trust acquired a new stake in shares of Cintas during the 1st quarter worth approximately $25,000. Whipplewood Advisors LLC grew its holdings in shares of Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. Swiss RE Ltd. bought a new stake in shares of Cintas during the fourth quarter valued at approximately $25,000. Finally, Camelot Portfolios LLC bought a new stake in shares of Cintas during the fourth quarter valued at approximately $26,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Robert W. Baird increased their target price on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a report on Thursday, July 16th. One research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Stock Performance

Shares of Cintas stock opened at $203.52 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a 50 day simple moving average of $190.61 and a 200 day simple moving average of $184.95. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. The firm has a market cap of $81.44 billion, a P/E ratio of 54.42, a P/E/G ratio of 3.28 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results 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 company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Sell-side analysts predict that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is currently 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.