Bank of Nova Scotia Acquires 21,996 Shares of Cintas Corporation $CTAS

Bank of Nova Scotia boosted its holdings in Cintas Corporation (NASDAQ:CTAS) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,907 shares of the business services provider’s stock after purchasing an additional 21,996 shares during the quarter. Bank of Nova Scotia’s holdings in Cintas were worth $22,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Alpine Bank Wealth Management boosted its stake in shares of Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after buying an additional 153 shares during the period. WPG Advisers LLC grew its position in Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock worth $35,000 after buying an additional 81 shares in the last quarter. Salomon & Ludwin LLC increased its stake in Cintas by 84.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 184 shares of the business services provider’s stock worth $37,000 after acquiring an additional 84 shares during the period. Evolution Wealth Management Inc. bought a new position in Cintas during the 2nd quarter worth $45,000. Finally, Caitlin John LLC acquired a new position in Cintas in the 3rd quarter valued at $49,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.8%

Shares of CTAS stock opened at $192.74 on Tuesday. The stock’s fifty day moving average price is $195.31 and its two-hundred day moving average price is $193.09. The company has a market cap of $77.07 billion, a PE ratio of 56.19, a P/E/G ratio of 3.50 and a beta of 0.95. Cintas Corporation has a fifty-two week low of $180.39 and a fifty-two week high of $229.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.49 and a current ratio of 1.71.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 18th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. Cintas had a return on equity of 41.07% and a net margin of 17.58%.The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the company posted $1.09 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.810-4.880 EPS. Equities analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, February 13th. Cintas’s payout ratio is currently 52.48%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday. Argus raised Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cintas in a research report on Monday, December 29th. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $245.00 in a research note on Wednesday, January 14th. Finally, Bank of America assumed coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cintas currently has a consensus rating of “Moderate Buy” and an average target price of $220.25.

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.