Pallas Capital Advisors LLC Makes New $684,000 Investment in Cintas Corporation $CTAS

Pallas Capital Advisors LLC acquired a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, Holdings Channel.com reports. The firm acquired 4,019 shares of the business services provider’s stock, valued at approximately $684,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. AMG National Trust Bank acquired a new stake in shares of Cintas during the 2nd quarter worth approximately $1,973,000. Summit Global Investments acquired a new position in shares of Cintas in the 2nd quarter valued at $950,000. Oppenheimer Asset Management Inc. purchased a new stake in Cintas during the second quarter worth $4,972,000. Riverbridge Partners LLC boosted its holdings in Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after buying an additional 16,437 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in Cintas during the second quarter valued at $62,057,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CTAS shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Truist Financial cut their price target on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Finally, Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

NASDAQ CTAS opened at $203.08 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The stock’s 50 day simple moving average is $190.18 and its 200-day simple moving average is $184.86. The company has a market cap of $81.27 billion, a PE ratio of 54.30, a price-to-earnings-growth ratio of 3.22 and a beta of 0.92. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.87.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities research analysts anticipate that Cintas Corporation will post 5.49 EPS for the current fiscal 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 paid a dividend of $0.52 per share. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio is presently 55.61%.

About Cintas

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.