Elevation Point Wealth Partners LLC Invests $1.82 Million in Cintas Corporation $CTAS

Elevation Point Wealth Partners LLC bought a new position in Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,726 shares of the business services provider’s stock, valued at approximately $1,824,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nemes Rush Group LLC bought a new position in shares of Cintas during the fourth quarter worth about $25,000. First United Bank & Trust bought a new stake in Cintas in the 1st quarter valued at approximately $25,000. Whipplewood Advisors LLC boosted its position in Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after acquiring an additional 137 shares during the last quarter. Swiss RE Ltd. bought a new position in shares of Cintas during the 4th quarter worth approximately $25,000. Finally, Camelot Portfolios LLC bought a new position in shares of Cintas during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $203.79 on Monday. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $191.16 and a 200-day moving average of $185.04. The company has a market cap of $81.55 billion, a PE ratio of 54.49, a PEG ratio of 3.29 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the company 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. On average, equities research analysts anticipate that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.52 dividend. 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 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s payout ratio is 55.61%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTAS. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Truist Financial lowered their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research report on Thursday, July 16th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Profile

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.