Assenagon Asset Management S.A. Has $160.12 Million Position in Cintas Corporation $CTAS

Assenagon Asset Management S.A. grew its position in Cintas Corporation (NASDAQ:CTAS) by 79.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 780,062 shares of the business services provider’s stock after acquiring an additional 345,489 shares during the period. Assenagon Asset Management S.A. owned about 0.19% of Cintas worth $160,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alpha Financial Partners LLC grew its holdings in Cintas by 2.9% during the second quarter. Alpha Financial Partners LLC now owns 1,602 shares of the business services provider’s stock worth $357,000 after purchasing an additional 45 shares during the period. Portside Wealth Group LLC lifted its position in shares of Cintas by 3.5% in the second quarter. Portside Wealth Group LLC now owns 1,360 shares of the business services provider’s stock valued at $303,000 after buying an additional 46 shares during the last quarter. Elyxium Wealth LLC boosted its stake in shares of Cintas by 3.8% during the 2nd quarter. Elyxium Wealth LLC now owns 1,322 shares of the business services provider’s stock worth $295,000 after acquiring an additional 48 shares during the period. Oarsman Capital Inc. increased its holdings in shares of Cintas by 3.9% during the 1st quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider’s stock worth $272,000 after acquiring an additional 49 shares during the last quarter. Finally, Independent Wealth Network Inc. raised its stake in Cintas by 4.8% in the 2nd 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. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company reaffirmed a “cautious” rating and set a $185.00 price target (down previously from $218.00) on shares of Cintas in a report on Tuesday, November 25th. Sanford C. Bernstein began coverage on shares of Cintas in a report on Wednesday, November 12th. They set a “market perform” rating and a $200.00 target price for the company. Rothschild & Co Redburn upgraded shares of Cintas from a “sell” rating to a “neutral” rating and set a $184.00 price target on the stock in a research note on Tuesday, November 11th. JPMorgan Chase & Co. cut their price objective on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, Citigroup boosted their price objective on Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $212.71.

Cintas Price Performance

NASDAQ:CTAS opened at $187.62 on Wednesday. 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’s 50-day simple moving average is $186.66 and its 200 day simple moving average is $205.06. The firm has a market cap of $75.40 billion, a price-to-earnings ratio of 42.54, a P/E/G ratio of 3.26 and a beta of 0.96.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.70 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio is currently 40.82%.

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

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.