Investment Management Corp of Ontario Buys 20,193 Shares of Cintas Corporation $CTAS

Investment Management Corp of Ontario lifted its stake in Cintas Corporation (NASDAQ:CTAS) by 196.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,473 shares of the business services provider’s stock after acquiring an additional 20,193 shares during the period. Investment Management Corp of Ontario’s holdings in Cintas were worth $6,792,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in shares of Cintas in the first quarter valued at approximately $27,000. Saudi Central Bank bought a new position in Cintas in the 1st quarter worth $29,000. Barnes Dennig Private Wealth Management LLC raised its holdings in Cintas by 800.0% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock worth $32,000 after acquiring an additional 128 shares during the period. Golden State Wealth Management LLC lifted its position in Cintas by 3,925.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock worth $36,000 after acquiring an additional 157 shares during the last quarter. Finally, Addison Advisors LLC boosted its holdings in Cintas by 57.0% during the second quarter. Addison Advisors LLC now owns 168 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 61 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.1%

Shares of CTAS stock opened at $183.15 on Wednesday. The stock has a market cap of $73.60 billion, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 3.16 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. The stock has a fifty day moving average price of $188.05 and a 200 day moving average price of $206.37. Cintas Corporation has a one year low of $180.39 and a one year high of $229.24.

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

Cintas Announces Dividend

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

Cintas declared that its board has approved a stock buyback program on Tuesday, October 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CTAS shares. Rothschild Redb upgraded Cintas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Rothschild & Co Redburn upgraded Cintas from a “sell” rating to a “neutral” rating and set a $184.00 price target for the company in a report on Tuesday, November 11th. Wells Fargo & Company reissued a “cautious” rating and issued a $185.00 price objective (down from $218.00) on shares of Cintas in a research report on Tuesday, November 25th. Redburn Partners set a $184.00 target price on shares of Cintas in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating for the company 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 given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $212.71.

Cintas 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.