Van ECK Associates Corp Cuts Stake in Cintas Corporation $CTAS

Van ECK Associates Corp cut its stake in Cintas Corporation (NASDAQ:CTAS) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,889 shares of the business services provider’s stock after selling 12,872 shares during the period. Van ECK Associates Corp’s holdings in Cintas were worth $13,077,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Nissay Asset Management Corp Japan raised its stake in Cintas by 3.6% during the second quarter. Nissay Asset Management Corp Japan now owns 111,471 shares of the business services provider’s stock worth $18,959,000 after purchasing an additional 3,891 shares during the period. Field & Main Bank purchased a new stake in shares of Cintas during the 2nd quarter valued at $44,000. Wellington Management Group LLP increased its holdings in shares of Cintas by 13.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,542,613 shares of the business services provider’s stock worth $262,368,000 after buying an additional 181,620 shares during the last quarter. Archer Investment Corp acquired a new stake in shares of Cintas during the 2nd quarter worth $32,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Cintas during the 2nd quarter worth $489,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTAS shares. Truist Financial reduced their target price on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

NASDAQ:CTAS opened at $201.79 on Tuesday. The firm’s fifty day simple moving average is $195.08 and its 200 day simple moving average is $185.47. 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. The firm has a market capitalization of $80.75 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 3.30 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $2.91 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities research analysts expect 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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is 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.