Welch & Forbes LLC Has $43.07 Million Stock Holdings in Cintas Corporation $CTAS

Welch & Forbes LLC increased its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 0.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 193,241 shares of the business services provider’s stock after acquiring an additional 745 shares during the quarter. Welch & Forbes LLC’s holdings in Cintas were worth $43,068,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in Cintas during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in Cintas during the 1st quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC boosted its position in Cintas by 800.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock worth $32,000 after buying an additional 128 shares during the period. Stone House Investment Management LLC acquired a new stake in Cintas during the 1st quarter worth approximately $41,000. Finally, Resources Management Corp CT ADV acquired a new stake in Cintas during the 1st quarter worth approximately $41,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

CTAS opened at $183.27 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $198.73 and its two-hundred day moving average price is $211.78. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The company has a market cap of $73.65 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 3.18 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas announced that its board has initiated a stock buyback program on Tuesday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, November 14th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio is presently 40.82%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut their target price on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 25th. Robert W. Baird boosted their price target on shares of Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Wells Fargo & Company dropped their price target on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Morgan Stanley boosted their price target on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cintas in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $222.09.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.