First Citizens Bank & Trust Co. Has $1.49 Million Stock Holdings in Cintas Corporation $CTAS

First Citizens Bank & Trust Co. raised its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 103.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,686 shares of the business services provider’s stock after purchasing an additional 3,404 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Cintas were worth $1,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in Cintas during the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in Cintas during the first quarter valued at approximately $29,000. Stone House Investment Management LLC acquired a new stake in Cintas during the first quarter valued at approximately $41,000. Resources Management Corp CT ADV acquired a new stake in Cintas during the first quarter valued at approximately $41,000. Finally, Washington Trust Advisors Inc. acquired a new stake in Cintas during the first quarter valued at approximately $46,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. The Goldman Sachs Group lifted their target price on shares of Cintas from $233.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. UBS Group lifted their target price on shares of Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cintas in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company cut their target price on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $222.09.

Insider Activity at Cintas

In related news, CEO Todd M. Schneider sold 17,301 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the transaction, the chief executive officer owned 622,712 shares in the company, valued at $137,557,080.80. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the sale, the director owned 21,945 shares of the company’s stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 14.90% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $192.34 on Friday. 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 company has a 50 day moving average price of $202.23 and a 200 day moving average price of $212.27. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The stock has a market capitalization of $77.30 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 3.34 and a beta of 1.01.

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

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a $0.45 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 0.9%. Cintas’s dividend payout ratio is presently 40.82%.

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.