Legal & General Group Plc Buys New Stake in Cintas Corporation $CTAS

Legal & General Group Plc purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,270,454 shares of the business services provider’s stock, valued at approximately $386,159,000. Legal & General Group Plc owned 0.57% of Cintas as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. One Capital Management LLC increased its holdings in shares of Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 53 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Cintas by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock valued at $1,236,000 after buying an additional 58 shares in the last quarter. Sachetta LLC increased its stake in Cintas by 46.0% during the 1st quarter. Sachetta LLC now owns 200 shares of the business services provider’s stock valued at $34,000 after buying an additional 63 shares during the period. Ausdal Financial Partners Inc. raised its position in shares of Cintas by 2.8% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock worth $510,000 after buying an additional 63 shares in the last quarter. Finally, Elyxium Wealth LLC lifted its stake in shares of Cintas by 4.9% in the 4th quarter. Elyxium Wealth LLC now owns 1,368 shares of the business services provider’s stock worth $257,000 after acquiring an additional 64 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTAS. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. Robert W. Baird upped their target price on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $231.00 price target on shares of Cintas in a research note on Wednesday, July 15th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Finally, Truist Financial dropped their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Stock Performance

NASDAQ:CTAS opened at $204.76 on Wednesday. The company has a 50-day moving average of $192.37 and a 200-day moving average of $185.24. The firm has a market cap of $81.94 billion, a price-to-earnings ratio of 54.75, a price-to-earnings-growth ratio of 3.35 and a beta of 0.92. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. This is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s dividend payout ratio is currently 55.61%.

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.