Bank of Nova Scotia Sells 876 Shares of Carlisle Companies Incorporated (NYSE:CSL)

Key Points

• Bank of Nova Scotia reduced its stake in Carlisle Companies by 53.8% in Q1, now holding 753 shares valued at $256,000.
• Wall Street analysts have mixed ratings on Carlisle Companies, with a current consensus of "Moderate Buy" and an average price target of $450.83.
• Carlisle Companies announced a quarterly dividend of $1.10 per share, increasing from the previous $1.00, representing an annualized yield of 1.2%.

Bank of Nova Scotia lessened its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 53.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 753 shares of the conglomerate's stock after selling 876 shares during the period. Bank of Nova Scotia's holdings in Carlisle Companies were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Banco Santander S.A. acquired a new stake in shares of Carlisle Companies during the 1st quarter valued at $1,130,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of Carlisle Companies by 10.5% during the 1st quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 2,100 shares of the conglomerate's stock valued at $715,000 after acquiring an additional 200 shares during the last quarter. Commerce Bank lifted its position in shares of Carlisle Companies by 1.5% during the 1st quarter. Commerce Bank now owns 10,833 shares of the conglomerate's stock valued at $3,689,000 after acquiring an additional 162 shares during the last quarter. US Bancorp DE raised its stake in Carlisle Companies by 1.4% during the 1st quarter. US Bancorp DE now owns 8,046 shares of the conglomerate's stock valued at $2,740,000 after purchasing an additional 111 shares during the period. Finally, Harbour Investments Inc. raised its stake in Carlisle Companies by 277.1% during the 1st quarter. Harbour Investments Inc. now owns 181 shares of the conglomerate's stock valued at $62,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 89.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CSL shares. Wall Street Zen raised shares of Carlisle Companies from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Robert W. Baird boosted their target price on shares of Carlisle Companies from $455.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Loop Capital downgraded shares of Carlisle Companies from a "buy" rating to a "hold" rating and cut their target price for the company from $430.00 to $395.00 in a research note on Thursday, July 31st. Truist Financial cut their target price on shares of Carlisle Companies from $420.00 to $390.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. started coverage on shares of Carlisle Companies in a research note on Tuesday, June 24th. They set an "overweight" rating and a $500.00 target price on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Carlisle Companies has an average rating of "Moderate Buy" and an average target price of $450.83.

Carlisle Companies Stock Up 2.7%

Shares of NYSE CSL traded up $10.41 during mid-day trading on Wednesday, reaching $394.80. The company had a trading volume of 123,942 shares, compared to its average volume of 463,483. Carlisle Companies Incorporated has a twelve month low of $311.41 and a twelve month high of $481.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. The stock has a market capitalization of $16.88 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.05. The stock's 50 day moving average is $385.59 and its 200-day moving average is $369.11.

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 analysts' consensus estimates of $6.67 by ($0.40). Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $6.24 earnings per share. The company's revenue was down .1% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a $1.10 dividend. This is a boost from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, August 19th. Carlisle Companies's dividend payout ratio is currently 22.35%.

About Carlisle Companies

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.