Spire Wealth Management Sells 849 Shares of Cintas Corporation $CTAS

Spire Wealth Management decreased its holdings in Cintas Corporation (NASDAQ:CTAS) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,848 shares of the business services provider’s stock after selling 849 shares during the quarter. Spire Wealth Management’s holdings in Cintas were worth $1,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC acquired a new stake in Cintas in the 1st quarter worth about $27,000. Saudi Central Bank acquired a new stake in Cintas in the 1st quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC raised its stake in Cintas by 800.0% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock worth $32,000 after purchasing an additional 128 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in Cintas in the 1st quarter worth about $41,000. Finally, Resources Management Corp CT ADV acquired a new stake in Cintas in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Citigroup increased their price objective 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. Robert W. Baird increased their price objective on shares of Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cintas in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $222.09.

Cintas Trading Up 0.0%

Shares of Cintas stock opened at $183.98 on Friday. The firm’s 50-day moving average price is $199.38 and its two-hundred day moving average price is $211.94. Cintas Corporation has a 12-month low of $180.78 and a 12-month high of $229.24. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $73.94 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 3.18 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion for 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 firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s payout ratio is 40.82%.

Cintas announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Cintas Profile

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.