Cintas Corporation $CTAS Stock: Nisa Investment Advisors LLC Increases Stake

Nisa Investment Advisors LLC increased its position in Cintas Corporation (NASDAQ:CTAS) by 5.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 141,686 shares of the business services provider’s stock after buying an additional 7,395 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cintas were worth $27,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. South Shore Capital Advisors purchased a new stake in shares of Cintas in the third quarter worth $276,000. Bank Pictet & Cie Europe AG raised its position in shares of Cintas by 9.3% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 562,184 shares of the business services provider’s stock valued at $109,660,000 after purchasing an additional 48,000 shares during the period. 55 North Private Wealth LLC bought a new stake in shares of Cintas during the 3rd quarter valued at $237,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Cintas by 2.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,565 shares of the business services provider’s stock valued at $11,229,000 after purchasing an additional 1,319 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in shares of Cintas by 20.1% during the 3rd quarter. CWA Asset Management Group LLC now owns 8,882 shares of the business services provider’s stock valued at $1,733,000 after buying an additional 1,484 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CTAS. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. The Goldman Sachs Group increased their price target on Cintas from $231.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Weiss Ratings raised Cintas from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Wells Fargo & Company reissued an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Finally, Truist Financial boosted their price objective on Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.50.

Cintas Trading Up 2.2%

CTAS stock opened at $217.03 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The business has a 50 day simple moving average of $201.42 and a two-hundred day simple moving average of $187.99. The company has a market capitalization of $86.18 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 3.37 and a beta of 0.92.

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

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio is 41.03%.

About Cintas

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.