Chesley Taft & Associates LLC Has $3.71 Million Position in Carlisle Companies Incorporated $CSL

Key Points

• Institutional ownership increased: Chesley Taft & Associates raised its Carlisle Companies stake by 80.6% to 10,224 shares valued at $3.71 million. Institutional investors and hedge funds collectively own 89.52% of CSL.
• Analysts remain moderately bullish: Carlisle has a consensus “Moderate Buy” rating from analysts, with an average price target of $401.17; five analysts rate it a Buy and five rate it a Hold.
• Strong results and higher dividend: The company reported quarterly EPS of $7.03 and revenue of $1.57 billion, beating estimates and increasing year-over-year. Carlisle also raised its quarterly dividend to $1.25 per share, equal to a 1.3% annual yield.

Chesley Taft & Associates LLC grew its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 80.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,224 shares of the conglomerate's stock after acquiring an additional 4,564 shares during the period. Chesley Taft & Associates LLC's holdings in Carlisle Companies were worth $3,709,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in Carlisle Companies by 36.9% in the first quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate's stock valued at $35,912,000 after purchasing an additional 28,414 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Carlisle Companies by 8.4% during the 2nd quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate's stock worth $952,000 after purchasing an additional 197 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Carlisle Companies during the 2nd quarter valued at about $1,345,000. Bank of Nova Scotia grew its stake in shares of Carlisle Companies by 118.6% in the 2nd quarter. Bank of Nova Scotia now owns 1,646 shares of the conglomerate's stock valued at $615,000 after buying an additional 893 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Carlisle Companies by 40.0% in the 2nd quarter. Sei Investments Co. now owns 115,396 shares of the conglomerate's stock valued at $43,088,000 after buying an additional 32,996 shares in the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on CSL shares. Weiss Ratings restated a "hold (c)" rating on shares of Carlisle Companies in a report on Wednesday, June 24th. Oppenheimer lifted their target price on shares of Carlisle Companies from $420.00 to $425.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Raymond James Financial started coverage on shares of Carlisle Companies in a research report on Monday, April 27th. They issued an "outperform" rating and a $425.00 target price for the company. Robert W. Baird set a $412.00 price target on shares of Carlisle Companies in a report on Thursday, July 30th. Finally, Truist Financial reduced their price objective 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. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $401.17.

Carlisle Companies Stock Up 1.1%

Shares of CSL stock opened at $387.00 on Friday. The stock's 50 day simple moving average is $352.60 and its 200 day simple moving average is $356.86. Carlisle Companies Incorporated has a twelve month low of $293.43 and a twelve month high of $432.91. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.04 and a current ratio of 2.60. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.22 and a beta of 0.85.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.35 by $0.68. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%.The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the business earned $6.27 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. As a group, research analysts predict that Carlisle Companies Incorporated will post 21.21 EPS for the current year.

Carlisle Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. This is an increase from Carlisle Companies's previous quarterly dividend of $1.10. Carlisle Companies's payout ratio is currently 25.24%.

Carlisle Companies Profile

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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