Alberta Investment Management Corp Acquires New Position in Cintas Corporation $CTAS

Alberta Investment Management Corp bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,900 shares of the business services provider’s stock, valued at approximately $3,321,000.

A number of other hedge funds have also modified their holdings of CTAS. Nuveen LLC purchased a new position in shares of Cintas during the 1st quarter valued at $1,877,760,000. Voya Investment Management LLC raised its holdings in Cintas by 516.8% during the first quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider’s stock valued at $175,529,000 after acquiring an additional 715,570 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Cintas by 90.1% in the second quarter. Los Angeles Capital Management LLC now owns 1,214,098 shares of the business services provider’s stock valued at $270,586,000 after acquiring an additional 575,372 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Cintas by 169.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider’s stock worth $187,235,000 after purchasing an additional 573,151 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in 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 during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Price Performance

Shares of CTAS stock opened at $186.72 on Monday. The stock has a 50 day moving average price of $194.01 and a 200 day moving average price of $210.28. Cintas Corporation has a 52-week low of $180.39 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.94 and a current ratio of 2.24. The firm has a market capitalization of $75.04 billion, a P/E ratio of 42.34, a P/E/G ratio of 3.18 and a beta of 0.99.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.70 billion. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, sell-side analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas announced that its board has authorized a stock buyback plan on Tuesday, October 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Cintas Dividend Announcement

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

Wall Street Analyst Weigh In

CTAS has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Royal Bank Of Canada decreased their price target on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 25th. Sanford C. Bernstein initiated coverage on Cintas in a research report on Wednesday, November 12th. They issued a “market perform” rating and a $200.00 target price on the stock. Finally, Redburn Partners set a $184.00 price target on Cintas in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus target price of $215.07.

Cintas Company 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.