Gateway Wealth Partners LLC Acquires New Position in Cintas Corporation $CTAS

Gateway Wealth Partners LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,526 shares of the business services provider’s stock, valued at approximately $427,000.

A number of other institutional investors have also bought and sold shares of the business. Nemes Rush Group LLC acquired a new position in shares of Cintas during the 4th quarter worth approximately $25,000. First United Bank & Trust acquired a new stake in shares of Cintas in the first quarter valued at approximately $25,000. Whipplewood Advisors LLC lifted its position in Cintas by 1,712.5% during the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after buying an additional 137 shares in the last quarter. Swiss RE Ltd. purchased a new position in Cintas during the fourth quarter worth approximately $25,000. Finally, Camelot Portfolios LLC purchased a new position in Cintas during the fourth quarter worth approximately $26,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several analyst reports. Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 target price on shares of Cintas in a research note on Wednesday, July 15th. Truist Financial lowered their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, UBS Group restated a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.31.

Cintas Trading Down 1.0%

Shares of Cintas stock opened at $204.63 on Friday. The firm has a market capitalization of $81.89 billion, a price-to-earnings ratio of 54.71, a PEG ratio of 3.34 and a beta of 0.94. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $226.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. The stock has a 50 day moving average of $183.11 and a 200 day moving average of $184.12.

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

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is 48.13%.

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.