Midwest Trust Co Buys New Position in Cintas Corporation $CTAS

Midwest Trust Co acquired a new stake in Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 68,192 shares of the business services provider’s stock, valued at approximately $15,198,000.

Several other large investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in Cintas during the first quarter valued at $1,877,760,000. Voya Investment Management LLC raised its position in shares of Cintas by 516.8% in the 1st quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider’s stock worth $175,529,000 after acquiring an additional 715,570 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Cintas by 90.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,214,098 shares of the business services provider’s stock worth $270,586,000 after acquiring an additional 575,372 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Cintas by 169.7% in the 1st 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. boosted its position in shares of Cintas by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider’s stock valued at $7,781,223,000 after purchasing an additional 491,307 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 0.1%

Shares of NASDAQ:CTAS opened at $185.07 on Monday. The business’s 50 day moving average is $196.04 and its 200 day moving average is $211.10. Cintas Corporation has a 12-month low of $180.39 and a 12-month high of $229.24. The stock has a market cap of $74.37 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 3.18 and a beta of 0.99. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.01. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the company posted $1.10 earnings per share. Cintas’s quarterly 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, sell-side analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas announced that its board has initiated a stock 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

CTAS has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Morgan Stanley raised their price objective 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. Robert W. Baird lifted their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Citigroup boosted their target price on shares of Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a research report on Friday, September 26th. Finally, UBS Group raised their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $222.09.

About Cintas

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.