14,212 Carlisle Companies Incorporated $CSL Shares Sold by Formuepleje A S

Key Points

• Formuepleje A S reduced its Carlisle Companies stake by 16.9%, selling 14,212 shares and ending the quarter with 70,116 shares worth approximately $22.6 million. Institutional investors collectively own 89.52% of the company.
• Analyst sentiment remains cautious, with an overall “Hold” rating and a consensus price target of $394.50; recent target changes ranged from $340 to $402.
• Carlisle reported better-than-expected quarterly results, with EPS of $7.03 and revenue of $1.57 billion, while increasing its quarterly dividend to $1.25, or $5.00 annually.

Formuepleje A S trimmed its holdings in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 16.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,116 shares of the conglomerate's stock after selling 14,212 shares during the quarter. Carlisle Companies accounts for about 1.9% of Formuepleje A S's holdings, making the stock its 15th largest position. Formuepleje A S owned about 0.18% of Carlisle Companies worth $22,589,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Carlisle Companies in the 2nd quarter valued at $1,499,602,000. Bank of New York Mellon Corp purchased a new position in shares of Carlisle Companies in the 2nd quarter worth about $405,245,000. Bessemer Group Inc. grew its position in Carlisle Companies by 3.0% during the first quarter. Bessemer Group Inc. now owns 620,699 shares of the conglomerate's stock valued at $207,078,000 after buying an additional 17,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Carlisle Companies by 22.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 525,177 shares of the conglomerate's stock valued at $190,508,000 after buying an additional 97,326 shares during the period. Finally, Madison Asset Management LLC purchased a new stake in Carlisle Companies during the second quarter worth about $152,865,000. 89.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. DA Davidson set a $355.00 price objective on shares of Carlisle Companies in a research report on Friday, October 9th. Weiss Ratings upgraded shares of Carlisle Companies from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Robert W. Baird reduced their target price on shares of Carlisle Companies from $412.00 to $402.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Truist Financial decreased their price target on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a research note on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $394.50.

Carlisle Companies Stock Performance

Shares of NYSE CSL traded up $11.91 during trading on Thursday, reaching $338.40. 174,089 shares of the stock traded hands, compared to its average volume of 475,770. Carlisle Companies Incorporated has a 52-week low of $293.43 and a 52-week high of $432.91. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04. The company has a 50-day moving average of $343.04 and a 200-day moving average of $346.78. The stock has a market capitalization of $13.44 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.03 and a beta of 0.84.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.68. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $6.27 EPS. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. Analysts forecast that Carlisle Companies Incorporated will post 21.18 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were paid a $1.25 dividend. The ex-dividend date was Wednesday, August 19th. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a dividend yield of 1.5%. Carlisle Companies's dividend payout ratio is 28.69%.

About Carlisle Companies

Carlisle Companies Incorporated is a diversified manufacturer focused primarily on building products and related technologies. Through its Carlisle Construction Materials and Carlisle Weatherproofing Technologies businesses, the company supplies commercial and residential roofing systems, insulation, waterproofing products, architectural metals, and other building-envelope solutions. Its products are used in new construction, renovation, and maintenance projects.

Carlisle also develops products for specialized industrial and aerospace applications.

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