OLD National Bancorp IN Sells 2,570 Shares of Cintas Corporation $CTAS

OLD National Bancorp IN cut its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 10.7% during the second quarter, HoldingsChannel reports. The firm owned 21,385 shares of the business services provider’s stock after selling 2,570 shares during the quarter. OLD National Bancorp IN’s holdings in Cintas were worth $4,766,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider’s stock valued at $258,000 after buying an additional 47 shares during the period. Oarsman Capital Inc. increased its position in Cintas by 3.9% during the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider’s stock valued at $272,000 after acquiring an additional 49 shares during the last quarter. Independent Wealth Network Inc. raised its stake in shares of Cintas by 4.8% in the second quarter. Independent Wealth Network Inc. now owns 1,077 shares of the business services provider’s stock valued at $240,000 after acquiring an additional 49 shares during the period. Truvestments Capital LLC lifted its holdings in shares of Cintas by 17.4% in the 1st quarter. Truvestments Capital LLC now owns 338 shares of the business services provider’s stock worth $69,000 after acquiring an additional 50 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its stake in shares of Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider’s stock worth $266,000 after purchasing an additional 51 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

CTAS stock opened at $202.61 on Monday. The firm has a 50-day simple moving average of $211.00 and a two-hundred day simple moving average of $213.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.94 and a current ratio of 2.24. Cintas Corporation has a one year low of $180.78 and a one year high of $229.24. The firm has a market cap of $81.65 billion, a price-to-earnings ratio of 45.94, a PEG ratio of 3.50 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 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. Cintas’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, equities analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

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

Insider Buying and Selling

In other Cintas news, Director Martin Mucci purchased 1,200 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the purchase, the director owned 2,621 shares of the company’s stock, valued at approximately $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly owned 622,712 shares of the company’s stock, valued at $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. cut their target price on Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Cintas in a research note on Saturday, September 27th. UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley increased their target price on Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $222.09.

Cintas Profile

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.