Meridian Wealth Management LLC Has $523,000 Stock Position in Cintas Corporation $CTAS

Meridian Wealth Management LLC raised its stake in Cintas Corporation (NASDAQ:CTAS) by 16.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,348 shares of the business services provider’s stock after acquiring an additional 339 shares during the quarter. Meridian Wealth Management LLC’s holdings in Cintas were worth $523,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of Cintas during the first quarter worth approximately $27,000. Saudi Central Bank acquired a new position in Cintas in the 1st quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC increased its position in Cintas by 800.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock worth $32,000 after buying an additional 128 shares during the period. Golden State Wealth Management LLC increased its position in Cintas by 3,925.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock worth $36,000 after buying an additional 157 shares during the period. Finally, Addison Advisors LLC lifted its holdings in shares of Cintas by 57.0% during the second quarter. Addison Advisors LLC now owns 168 shares of the business services provider’s stock worth $37,000 after buying an additional 61 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $183.76 on Tuesday. The company’s 50-day moving average price is $193.63 and its two-hundred day moving average price is $210.10. The firm has a market cap of $73.85 billion, a P/E ratio of 41.67, a P/E/G ratio of 3.18 and a beta of 0.99. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12 month low of $180.39 and a 12 month high of $229.24.

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

Cintas declared that its board has approved a share repurchase program on Tuesday, October 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 14th. Cintas’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analyst Weigh In

Several research firms recently commented on CTAS. Royal Bank Of Canada decreased their price target on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 25th. Citigroup boosted their price objective on shares of Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a report on Friday, September 26th. JPMorgan Chase & Co. lowered their target price on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Redburn Partners set a $184.00 target price on shares of Cintas in a report on Tuesday, November 11th. Finally, Rothschild Redb upgraded Cintas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $215.07.

Cintas Company 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.