PNC Financial Services Group Inc. Cuts Stake in Carlisle Companies Incorporated (NYSE:CSL)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Carlisle Companies by 8.8% in Q1, owning 7,979 shares worth approximately $2.72 million at the end of the period.
• Analysts have mixed views on Carlisle Companies, with the stock receiving upgrades to "outperform" and "overweight" while others downgraded it to "hold" and set varying price targets.
• Carlisle Companies announced a quarterly dividend increase to $1.10 per share, up from $1.00, representing an annualized yield of 1.2%.

PNC Financial Services Group Inc. lowered its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,979 shares of the conglomerate's stock after selling 773 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Carlisle Companies were worth $2,717,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CSL. Allspring Global Investments Holdings LLC lifted its holdings in Carlisle Companies by 4.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,148,796 shares of the conglomerate's stock valued at $394,244,000 after purchasing an additional 49,102 shares during the last quarter. Madison Asset Management LLC lifted its holdings in Carlisle Companies by 28.2% during the first quarter. Madison Asset Management LLC now owns 515,134 shares of the conglomerate's stock valued at $175,403,000 after purchasing an additional 113,312 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Carlisle Companies by 38,164.5% during the first quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock valued at $172,635,000 after purchasing an additional 505,680 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Carlisle Companies by 8.4% during the first quarter. Bessemer Group Inc. now owns 504,790 shares of the conglomerate's stock valued at $171,880,000 after purchasing an additional 39,329 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Carlisle Companies by 20.7% during the fourth quarter. Northern Trust Corp now owns 488,608 shares of the conglomerate's stock valued at $180,218,000 after purchasing an additional 83,652 shares during the last quarter. Institutional investors own 89.52% of the company's stock.

Wall Street Analysts Forecast Growth

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

Carlisle Companies Price Performance

CSL stock traded up $10.35 during midday trading on Wednesday, hitting $394.74. The company's stock had a trading volume of 123,942 shares, compared to its average volume of 463,483. Carlisle Companies Incorporated has a 12 month low of $311.41 and a 12 month high of $481.26. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.05. The company has a 50 day moving average of $385.59 and a two-hundred day moving average of $369.11.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The conglomerate reported $6.27 EPS for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.24 earnings per share. On average, analysts expect that Carlisle Companies Incorporated will post 22.31 EPS for the current year.

Carlisle Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued 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 boost from Carlisle Companies's previous quarterly dividend of $1.00. Carlisle Companies's payout ratio is currently 22.35%.

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.