Nuveen LLC Takes $62.49 Million Position in Carlisle Companies Incorporated (NYSE:CSL)

Key Points

• Nuveen LLC has acquired a new stake in Carlisle Companies Incorporated, purchasing 183,509 shares valued at approximately $62.49 million, representing about 0.42% ownership.
• Carlisle Companies recently reported $6.27 EPS for the quarter, falling short of the expected $6.67, with revenues of $1.45 billion, down from consensus estimates of $1.50 billion.
• The company has announced a quarterly dividend increase to $1.10 per share, effective September 2nd, showcasing a positive change from the previous dividend of $1.00.

Nuveen LLC bought a new stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 183,509 shares of the conglomerate's stock, valued at approximately $62,485,000. Nuveen LLC owned about 0.42% of Carlisle Companies as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Carlisle Companies by 35.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,459 shares of the conglomerate's stock valued at $3,902,000 after purchasing an additional 2,976 shares during the last quarter. Spire Wealth Management raised its position in Carlisle Companies by 2.8% during the first quarter. Spire Wealth Management now owns 1,960 shares of the conglomerate's stock valued at $667,000 after buying an additional 54 shares during the period. CX Institutional acquired a new position in Carlisle Companies during the first quarter valued at $49,000. GAMMA Investing LLC raised its position in Carlisle Companies by 12.4% during the first quarter. GAMMA Investing LLC now owns 1,489 shares of the conglomerate's stock valued at $507,000 after buying an additional 164 shares during the period. Finally, Fifth Third Bancorp raised its position in Carlisle Companies by 11.5% during the first quarter. Fifth Third Bancorp now owns 1,103 shares of the conglomerate's stock valued at $376,000 after buying an additional 114 shares during the period. 89.52% of the stock is owned by hedge funds and other institutional investors.

Carlisle Companies Stock Performance

Shares of NYSE CSL opened at $399.95 on Thursday. 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 firm has a market cap of $17.10 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 1.21 and a beta of 1.05. The business's 50-day simple moving average is $385.93 and its 200-day simple moving average is $369.32. Carlisle Companies Incorporated has a 52 week low of $311.41 and a 52 week high of $481.26.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its earnings results 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). 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 for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $6.24 EPS. Carlisle Companies's revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Carlisle Companies Incorporated will post 22.31 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

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

Analysts Set New Price Targets

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

Carlisle Companies Company 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.

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