Meeder Advisory Services Inc. Buys Shares of 17,801 Cintas Corporation $CTAS

Meeder Advisory Services Inc. purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, HoldingsChannel reports. The fund purchased 17,801 shares of the business services provider’s stock, valued at approximately $3,028,000.

A number of other large investors have also made changes to their positions in CTAS. AMG National Trust Bank acquired a new position in shares of Cintas in the second quarter valued at approximately $1,973,000. Summit Global Investments bought a new stake in Cintas in the 2nd quarter valued at $950,000. Oppenheimer Asset Management Inc. acquired a new position in Cintas in the 2nd quarter worth $4,972,000. Riverbridge Partners LLC boosted its stake in Cintas by 7.7% in the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after purchasing an additional 16,437 shares during the period. Finally, SEB Asset Management AB bought a new position in Cintas during the 1st quarter worth about $22,366,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. UBS Group reaffirmed a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas 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. Finally, Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Trading Up 0.8%

Shares of Cintas stock opened at $199.45 on Wednesday. The stock has a market cap of $79.81 billion, a P/E ratio of 53.33, a P/E/G ratio of 3.22 and a beta of 0.91. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.87. The business’s 50 day moving average is $189.72 and its 200-day moving average is $184.77.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts predict that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is currently 55.61%.

Cintas Company 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.