Royal London Asset Management Ltd. Sells 3,547 Shares of Cintas Corporation $CTAS

Royal London Asset Management Ltd. lowered its position in shares of Cintas Corporation (NASDAQ:CTAS) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,588 shares of the business services provider’s stock after selling 3,547 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cintas were worth $29,524,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. BlackRock Inc. bought a new stake in Cintas during the second quarter worth about $4,520,425,000. Norges Bank bought a new position in shares of Cintas in the fourth quarter valued at approximately $923,672,000. Bank of New York Mellon Corp bought a new position in shares of Cintas in the second quarter valued at approximately $644,334,000. Legal & General Group Plc acquired a new position in shares of Cintas in the 2nd quarter worth approximately $386,159,000. Finally, Bank of America Corp DE acquired a new position in shares of Cintas in the 2nd quarter worth approximately $233,111,000. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 0.0%

NASDAQ:CTAS opened at $204.18 on Friday. The company has a market cap of $81.71 billion, a price-to-earnings ratio of 54.59, a P/E/G ratio of 3.30 and a beta of 0.92. 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’s fifty day moving average price is $194.43 and its two-hundred day moving average price is $185.51. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $219.16.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The company 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, analysts anticipate that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 yield of 1.0%. The ex-dividend date is Friday, August 14th. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is currently 55.61%.

Analyst Ratings Changes

CTAS has been the topic of a number of research analyst reports. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Finally, UBS Group reaffirmed a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.