Cintas Corporation $CTAS Stock Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 9.0% during the third quarter, Holdings Channel.com reports. The firm owned 48,259 shares of the business services provider’s stock after buying an additional 3,976 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cintas were worth $9,413,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CTAS. Meeder Asset Management Inc. acquired a new stake in Cintas in the second quarter worth about $27,000. Archer Investment Corp bought a new position in Cintas in the 1st quarter valued at about $32,000. Pension & Wealth Management Advisors Inc. bought a new position in Cintas in the 3rd quarter valued at about $37,000. Highland Investment Advisors LLC bought a new position in Cintas in the 2nd quarter valued at about $32,000. Finally, Pingora Partners LLC acquired a new position in Cintas during the 2nd quarter valued at about $34,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent analyst reports. Argus boosted their price target on shares of Cintas from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Bank of America reiterated a “buy” rating and issued a $232.00 price objective on shares of Cintas in a report on Thursday, October 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research note on Thursday, September 24th. Finally, Rothschild & Co Redburn boosted their target price on Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cintas has a consensus rating of “Moderate Buy” and an average price target of $219.87.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $227.52 on Friday. The company has a market capitalization of $90.34 billion, a price-to-earnings ratio of 44.30, a PEG ratio of 3.60 and a beta of 0.86. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $233.46. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $208.43 and a two-hundred day moving average of $191.92.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, analysts expect that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 13th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Cintas’s payout ratio is 41.03%.

About Cintas

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms. The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment. Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.