Invesco Ltd. Sells 296,661 Shares of Carlisle Companies Incorporated (NYSE:CSL)

Key Points

• Invesco Ltd. has reduced its stake in Carlisle Companies Incorporated (NYSE:CSL) by 21.8%, now holding approximately 1,065,011 shares worth about $362.64 million as of its latest SEC filing.
• Carlisle Companies recently announced a quarterly dividend of $1.10 per share, marking an increase from the previous $1.00 dividend, with a dividend yield of 1.2%.
• The company's recent earnings report revealed an EPS of $6.27, falling short of expectations, while revenue for the quarter was $1.45 billion, indicating a slight decline from the prior year.

Invesco Ltd. lowered its holdings in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,065,011 shares of the conglomerate's stock after selling 296,661 shares during the quarter. Invesco Ltd. owned about 2.46% of Carlisle Companies worth $362,636,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Covestor Ltd boosted its stake in Carlisle Companies by 35.5% in the first quarter. Covestor Ltd now owns 286 shares of the conglomerate's stock worth $98,000 after purchasing an additional 75 shares in the last quarter. Cynosure Group LLC lifted its stake in shares of Carlisle Companies by 31.0% during the first quarter. Cynosure Group LLC now owns 1,039 shares of the conglomerate's stock valued at $354,000 after acquiring an additional 246 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Carlisle Companies during the first quarter valued at $1,554,000. WBH Advisory Inc. acquired a new position in shares of Carlisle Companies during the first quarter valued at $391,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Carlisle Companies by 13.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,977 shares of the conglomerate's stock valued at $13,272,000 after acquiring an additional 4,600 shares during the period. Institutional investors and hedge funds own 89.52% of the company's stock.

Wall Street Analyst Weigh In

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

Carlisle Companies Price Performance

NYSE CSL traded up $15.56 during midday trading on Wednesday, hitting $399.95. The company had a trading volume of 436,385 shares, compared to its average volume of 520,437. The company has a market capitalization of $17.10 billion, a PE ratio of 22.34, a P/E/G ratio of 1.21 and a beta of 1.05. 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 50-day moving average price of $385.93 and a 200-day moving average price of $369.32. Carlisle Companies Incorporated has a twelve month low of $311.41 and a twelve month high of $481.26.

Carlisle Companies (NYSE:CSL - Get Free Report) last issued its quarterly earnings results 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). Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business posted $6.24 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts anticipate that Carlisle Companies Incorporated will post 22.31 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. This is an increase from Carlisle Companies's previous quarterly dividend of $1.00. Carlisle Companies's dividend payout ratio is presently 22.35%.

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.