DAVENPORT & Co LLC Increases Position in Cintas Corporation $CTAS

DAVENPORT & Co LLC lifted its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,480 shares of the business services provider’s stock after buying an additional 394 shares during the quarter. DAVENPORT & Co LLC’s holdings in Cintas were worth $6,347,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. WPG Advisers LLC purchased a new position in Cintas during the first quarter worth approximately $27,000. Saudi Central Bank purchased a new position in Cintas during the first quarter worth approximately $29,000. Stone House Investment Management LLC purchased a new position in Cintas during the first quarter worth approximately $41,000. Resources Management Corp CT ADV purchased a new position in Cintas during the first quarter worth approximately $41,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock worth $43,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTAS. Citigroup increased their price target on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, September 26th. Wells Fargo & Company cut their target price on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Morgan Stanley raised their target price on shares of Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Robert W. Baird raised their target price on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cintas in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $222.09.

Cintas Price Performance

CTAS opened at $199.17 on Wednesday. The company has a fifty day simple moving average of $210.10 and a 200 day simple moving average of $213.19. The firm has a market cap of $80.26 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 3.44 and a beta of 1.01. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Equities research analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $0.39. Cintas’s dividend payout ratio (DPR) is 40.82%.

Insider Activity at Cintas

In related news, Director Martin Mucci acquired 1,200 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was bought at an average cost of $222.55 per share, with a total value of $267,060.00. Following the acquisition, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares of the company’s stock, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.90% of the company’s stock.

About Cintas

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.