Moran Wealth Management LLC Sells 2,658 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Moran Wealth Management LLC reduced its stake in Carlisle Companies by 7.4%, selling 2,658 shares and retaining about 33,079 shares worth $12.35 million as reported in its SEC filing.
• Wall Street analysts have lowered their target prices for Carlisle Companies, with ratings varying from "buy" to "sell" and a consensus target price of $403.33.
• Carlisle Companies announced a quarterly dividend increase from $1.00 to $1.10 per share, representing a 1.4% dividend yield with a payout ratio of 24.58%.

Moran Wealth Management LLC trimmed its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,079 shares of the conglomerate's stock after selling 2,658 shares during the period. Moran Wealth Management LLC owned approximately 0.08% of Carlisle Companies worth $12,352,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Carlisle Companies by 11.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,279,031 shares of the conglomerate's stock valued at $499,052,000 after buying an additional 130,235 shares during the period. Madison Asset Management LLC lifted its stake in shares of Carlisle Companies by 28.2% in the first quarter. Madison Asset Management LLC now owns 515,134 shares of the conglomerate's stock valued at $175,403,000 after buying an additional 113,312 shares during the period. Bessemer Group Inc. lifted its stake in shares of Carlisle Companies by 8.4% in the first quarter. Bessemer Group Inc. now owns 504,790 shares of the conglomerate's stock valued at $171,880,000 after buying an additional 39,329 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Carlisle Companies by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 499,341 shares of the conglomerate's stock valued at $170,017,000 after buying an additional 50,578 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Carlisle Companies by 1.4% in the first quarter. Northern Trust Corp now owns 495,556 shares of the conglomerate's stock valued at $168,737,000 after buying an additional 6,948 shares during the period. 89.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Carlisle Companies from $440.00 to $385.00 and set an "outperform" rating for the company in a research note on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of Carlisle Companies in a research report on Wednesday, October 8th. 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 for the company in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Carlisle Companies from $480.00 to $410.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Carlisle Companies currently has a consensus rating of "Hold" and a consensus target price of $403.33.

Carlisle Companies Stock Performance

NYSE CSL opened at $325.89 on Tuesday. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.08 and a beta of 1.00. The company has a 50 day moving average of $360.97 and a 200-day moving average of $372.44. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. Carlisle Companies Incorporated has a 1-year low of $311.41 and a 1-year high of $481.26.

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 for the quarter, missing the consensus estimate of $6.67 by ($0.40). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.The business's quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $6.24 EPS. On average, equities analysts forecast 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 was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.4%. Carlisle Companies's dividend payout ratio (DPR) is 24.58%.

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.

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