Caisse DE Depot ET Placement DU Quebec Reduces Stock Position in Carlisle Companies Incorporated $CSL

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly reduced its stake in Carlisle Companies by selling 125,666 shares, leaving it with only 18,678 shares valued at approximately $6.36 million.
• Several institutional investors have increased their holdings in Carlisle Companies, with 89.52% of the stock now owned by institutional investors.
• Carlisle Companies announced an increase in its quarterly dividend from $1.00 to $1.10 per share, reflecting a 1.1% yield and potentially indicating confidence in ongoing business performance.

Caisse DE Depot ET Placement DU Quebec cut its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 87.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,678 shares of the conglomerate's stock after selling 125,666 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Carlisle Companies were worth $6,360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Dagco Inc. acquired a new stake in Carlisle Companies during the first quarter valued at $27,000. CX Institutional bought a new position in shares of Carlisle Companies in the first quarter worth about $49,000. Wayfinding Financial LLC bought a new position in shares of Carlisle Companies in the first quarter worth about $55,000. Allworth Financial LP grew its position in Carlisle Companies by 32.8% during the first quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock worth $58,000 after buying an additional 42 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Carlisle Companies by 277.1% during the first quarter. Harbour Investments Inc. now owns 181 shares of the conglomerate's stock worth $62,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 89.52% of the company's stock.

Carlisle Companies Trading Down 2.0%

CSL stock traded down $7.59 during midday trading on Tuesday, hitting $378.30. The stock had a trading volume of 192,177 shares, compared to its average volume of 454,202. Carlisle Companies Incorporated has a 1-year low of $311.41 and a 1-year high of $481.26. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. The firm has a market cap of $16.17 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The business has a fifty day moving average price of $391.71 and a two-hundred day moving average price of $370.89.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $6.27 earnings per share for the quarter, missing the consensus estimate of $6.67 by ($0.40). Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $6.24 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Carlisle Companies Incorporated will post 22.31 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a dividend of $1.10 per share. This is a boost from Carlisle Companies's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. Carlisle Companies's payout ratio is currently 24.58%.

Wall Street Analysts Forecast Growth

CSL has been the topic of a number of recent research reports. Loop Capital downgraded Carlisle Companies from a "buy" rating to a "hold" rating and decreased their price objective for the company from $430.00 to $395.00 in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Carlisle Companies from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. started coverage on shares of Carlisle Companies in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price objective for the company. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $450.83.

Carlisle Companies Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.