TimesSquare Capital Management LLC Takes $62.06 Million Position in Cintas Corporation $CTAS

TimesSquare Capital Management LLC purchased a new position in Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 364,868 shares of the business services provider’s stock, valued at approximately $62,057,000. TimesSquare Capital Management LLC owned approximately 0.09% of Cintas at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in Cintas during the 4th quarter valued at about $923,672,000. Bank of New York Mellon Corp purchased a new position in Cintas in the 2nd quarter worth approximately $644,334,000. Two Sigma Investments LP lifted its stake in Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after purchasing an additional 998,963 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cintas during the 2nd quarter worth approximately $157,180,000. Finally, Voloridge Investment Management LLC grew its position in shares of Cintas by 275.2% in the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after purchasing an additional 823,885 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 0.9%

Shares of NASDAQ CTAS opened at $197.82 on Tuesday. The company has a 50 day simple moving average of $189.33 and a 200-day simple moving average of $184.70. The company has a market capitalization of $79.16 billion, a P/E ratio of 52.89, a P/E/G ratio of 3.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.87.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities research analysts predict that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Cintas’s dividend payout ratio is currently 55.61%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CTAS shares. Argus raised Cintas to a “strong-buy” rating in a report on Friday, July 17th. Truist Financial lowered 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. The Goldman Sachs Group restated a “buy” rating and issued a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Robert W. Baird raised their target price on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, UBS Group reiterated a “buy” rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.31.

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.