Pictet Asset Management Holding SA Sells 162,240 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Pictet Asset Management reduced its stake in Carlisle by 32.5%162,240 shares and holding 337,555 shares (about 0.81% of the company) worth roughly $107.98 million at quarter-end.
• Company insiders have been net sellers recently — the CFO sold 24,180 shares and another insider sold 6,049 shares, with insiders disposing of 68,289 shares valued at about $28.13 million over the last 90 days (insiders now own 1.30%).
• Analyst coverage is mixed but cautious: the consensus rating is a "Hold" with an average target of $405, though several firms (Oppenheimer, JPMorgan, Raymond James) have raised price targets or issued Outperform/Overweight views.

Pictet Asset Management Holding SA decreased its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 32.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 337,555 shares of the conglomerate's stock after selling 162,240 shares during the period. Pictet Asset Management Holding SA owned 0.81% of Carlisle Companies worth $107,977,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Carlisle Companies by 36.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate's stock valued at $35,912,000 after buying an additional 28,414 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Carlisle Companies by 8.4% during the 2nd quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate's stock valued at $952,000 after buying an additional 197 shares in the last quarter. Jump Financial LLC purchased a new stake in Carlisle Companies during the 2nd quarter valued at approximately $1,345,000. Bank of Nova Scotia grew its holdings in Carlisle Companies by 118.6% during 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 holdings in Carlisle Companies by 40.0% during 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. Institutional investors own 89.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carlisle Companies in a report on Friday, March 27th. Oppenheimer increased their price objective on shares of Carlisle Companies from $420.00 to $425.00 and gave the company an "outperform" rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Carlisle Companies from $400.00 to $420.00 and gave the company an "overweight" rating in a report on Monday, March 9th. Truist Financial increased their price objective on shares of Carlisle Companies from $340.00 to $360.00 and gave the company a "hold" rating in a report on Friday. Finally, Raymond James Financial assumed coverage on shares of Carlisle Companies in a report on Monday. They set an "outperform" rating and a $425.00 price objective for the company. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $405.00.

Insider Activity at Carlisle Companies

In other news, CFO Kevin P. Zdimal sold 24,180 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $408.04, for a total transaction of $9,866,407.20. Following the completion of the sale, the chief financial officer directly owned 30,094 shares of the company's stock, valued at approximately $12,279,555.76. The trade was a 44.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Schwar sold 6,049 shares of the business's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $417.36, for a total transaction of $2,524,610.64. Following the sale, the insider directly owned 8,540 shares of the company's stock, valued at $3,564,254.40. This represents a 41.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,289 shares of company stock valued at $28,125,467 over the last ninety days. Company insiders own 1.30% of the company's stock.

Carlisle Companies Stock Up 0.3%

NYSE CSL opened at $361.01 on Tuesday. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 1.60. The company has a fifty day moving average of $358.42 and a two-hundred day moving average of $345.25. The firm has a market capitalization of $14.76 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.17 and a beta of 0.95. Carlisle Companies Incorporated has a 52 week low of $293.43 and a 52 week high of $435.92.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The conglomerate reported $3.63 EPS for the quarter, topping the consensus estimate of $3.31 by $0.32. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.45 billion. Carlisle Companies had a net margin of 14.57% and a return on equity of 42.03%. Carlisle Companies's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.61 earnings per share. On average, analysts predict that Carlisle Companies Incorporated will post 20.55 earnings per share for the current year.

Carlisle Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, February 17th. Carlisle Companies's payout ratio is currently 25.87%.

About Carlisle Companies

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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