Norges Bank Buys Shares of 4,152,782 Cintas Corporation $CTAS

Norges Bank purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,152,782 shares of the business services provider’s stock, valued at approximately $925,531,000. Norges Bank owned 1.03% of Cintas as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new position in Cintas during the 1st quarter valued at about $1,877,760,000. Voya Investment Management LLC lifted its position in shares of Cintas by 516.8% during the first quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider’s stock worth $175,529,000 after purchasing an additional 715,570 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Cintas by 90.1% in the second quarter. Los Angeles Capital Management LLC now owns 1,214,098 shares of the business services provider’s stock valued at $270,586,000 after purchasing an additional 575,372 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Cintas by 169.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider’s stock valued at $187,235,000 after purchasing an additional 573,151 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Cintas by 1.4% in the second quarter. Vanguard Group Inc. now owns 38,384,133 shares of the business services provider’s stock valued at $8,554,672,000 after purchasing an additional 524,829 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS stock opened at $186.10 on Friday. The company has a market cap of $74.79 billion, a P/E ratio of 42.20, a PEG ratio of 3.18 and a beta of 0.99. The firm has a fifty day moving average price of $190.60 and a 200 day moving average price of $208.29. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12 month low of $180.39 and a 12 month high of $229.24.

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

Cintas announced that its board has authorized a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Cintas Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTAS shares. JPMorgan Chase & Co. reduced their target price on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Rothschild Redb raised Cintas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Citigroup increased their price objective on Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a research note on Friday, September 26th. Redburn Partners set a $184.00 target price on Cintas in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada cut their price target on Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $212.71.

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.