Carlisle Companies Incorporated $CSL Stock Holdings Decreased by Vest Financial LLC

Key Points

• Vest Financial cut its stake in Carlisle by 72.0%, leaving it with 8,837 shares worth $2.83M, while institutional ownership remains high at 89.52% and several other funds either raised or initiated positions.
• Analysts have largely raised price targets but the consensus rating is still a "Hold" with an average target of $405, as firms like Robert W. Baird ($425), JPMorgan ($420) and Truist ($360) updated their views.
• Carlisle beat EPS estimates ($3.63 vs. $3.31) but missed revenue ($1.05B vs. $1.45B), declared a $1.10 quarterly dividend (1.3% yield), and insiders sold about 68,289 shares (~$28.1M) in the past three months, including a large CEO sale.

Vest Financial LLC lowered its stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 72.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,837 shares of the conglomerate's stock after selling 22,707 shares during the period. Vest Financial LLC's holdings in Carlisle Companies were worth $2,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bridges Investment Management Inc. raised its position in shares of Carlisle Companies by 221.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 148,107 shares of the conglomerate's stock worth $48,721,000 after purchasing an additional 102,014 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Carlisle Companies by 4.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 227,526 shares of the conglomerate's stock worth $74,847,000 after purchasing an additional 8,701 shares during the period. Citigroup Inc. raised its position in shares of Carlisle Companies by 51.8% during the 3rd quarter. Citigroup Inc. now owns 28,336 shares of the conglomerate's stock worth $9,321,000 after purchasing an additional 9,673 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Carlisle Companies during the 3rd quarter worth approximately $540,000. Finally, M&G PLC acquired a new stake in shares of Carlisle Companies during the 3rd quarter worth approximately $11,913,000. Institutional investors own 89.52% of the company's stock.

Analysts Set New Price Targets

CSL has been the topic of a number of research reports. Truist Financial increased their price target on Carlisle Companies from $340.00 to $360.00 and gave the stock a "hold" rating in a research report on Friday, April 24th. Robert W. Baird boosted their target price on shares of Carlisle Companies from $402.00 to $425.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Carlisle Companies from $400.00 to $420.00 and gave the company an "overweight" rating in a research note on Monday, March 9th. Raymond James Financial started coverage on shares of Carlisle Companies in a research note on Monday. They set an "outperform" rating and a $425.00 target price for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Carlisle Companies in a research report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $405.00.

Carlisle Companies Stock Down 3.0%

NYSE CSL opened at $346.18 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.38 and a quick ratio of 2.49. The company's 50 day simple moving average is $356.20 and its 200 day simple moving average is $345.49. Carlisle Companies Incorporated has a 12 month low of $293.43 and a 12 month high of $435.92. The company has a market capitalization of $14.01 billion, a P/E ratio of 20.35, a PEG ratio of 1.15 and a beta of 0.95.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its earnings results on Thursday, April 23rd. The conglomerate reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $0.32. Carlisle Companies had a net margin of 14.57% and a return on equity of 43.78%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $3.61 EPS. The business's revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts expect that Carlisle Companies Incorporated will post 20.99 earnings per share for the current fiscal year.

Carlisle Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $1.10 per share. The ex-dividend date is Monday, May 18th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.3%. Carlisle Companies's payout ratio is currently 25.87%.

Insider Activity

In related news, CEO D Christian Koch sold 36,260 shares of the company's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $413.38, for a total transaction of $14,989,158.80. Following the transaction, the chief executive officer directly owned 113,238 shares of the company's stock, valued at approximately $46,810,324.44. The trade was a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Schwar sold 6,049 shares of the company's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $417.36, for a total value of $2,524,610.64. Following the transaction, the insider directly owned 8,540 shares in the company, valued at $3,564,254.40. The trade was a 41.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,289 shares of company stock worth $28,125,467 over the last three months. 1.30% of the stock is owned by insiders.

About Carlisle Companies

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company's operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.

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