Carlisle Companies Incorporated $CSL Shares Acquired by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management Inc. increased its stake in Carlisle Companies by 11.2% in Q2 2023, owning approximately 0.11% of the company valued at $17.2 million.
• Carlisle Companies reported Q2 earnings of $6.27 per share, missing estimates by $0.40, with revenues of $1.45 billion, slightly below expectations.
• The firm declared a quarterly dividend of $1.10, an increase from the previous $1.00, resulting in an annualized yield of 1.3% and a payout ratio of 24.58%.

Bridges Investment Management Inc. grew its holdings in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,093 shares of the conglomerate's stock after acquiring an additional 4,630 shares during the period. Bridges Investment Management Inc. owned about 0.11% of Carlisle Companies worth $17,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GFG Capital LLC acquired a new stake in shares of Carlisle Companies in the second quarter worth $25,000. Hemington Wealth Management increased its stake in shares of Carlisle Companies by 61.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the conglomerate's stock worth $25,000 after acquiring an additional 26 shares during the period. Dagco Inc. acquired a new stake in shares of Carlisle Companies in the first quarter worth $27,000. Costello Asset Management INC acquired a new stake in shares of Carlisle Companies in the second quarter worth $34,000. Finally, MAI Capital Management increased its stake in shares of Carlisle Companies by 37.8% in the first quarter. MAI Capital Management now owns 124 shares of the conglomerate's stock worth $42,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 89.52% of the company's stock.

Carlisle Companies Stock Performance

CSL opened at $330.91 on Thursday. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.89. The company has a market cap of $14.15 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.10 and a beta of 1.00. Carlisle Companies Incorporated has a 52-week low of $311.41 and a 52-week high of $474.73. The firm's fifty day simple moving average is $359.85 and its two-hundred day simple moving average is $371.86.

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

Carlisle Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a $1.10 dividend. This is an increase from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Carlisle Companies's payout ratio is 24.58%.

Wall Street Analyst Weigh In

Several analysts recently commented on CSL shares. Zacks Research lowered shares of Carlisle Companies from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 23rd. Truist Financial dropped their price target on shares of Carlisle Companies from $380.00 to $350.00 and set a "hold" rating on the stock in a research report on Monday, September 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Carlisle Companies in a research report on Wednesday, October 8th. Robert W. Baird dropped their price target on shares of Carlisle Companies from $440.00 to $385.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group dropped their price target on shares of Carlisle Companies from $444.00 to $385.00 and set a "buy" rating on the stock in a research report on Monday. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Carlisle Companies currently has an average rating of "Hold" and an average target price of $403.33.

Carlisle Companies Company 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.

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