Carlisle Companies Incorporated $CSL Shares Sold by Prudential PLC

Key Points

• Prudential PLC reduced its stake in Carlisle Companies Incorporated by 44.9%, selling 6,529 shares, and now holds 8,020 shares valued at approximately $2.73 million.
• Carlisle Companies reported quarterly earnings missing expectations, with an EPS of $6.27, compared to analysts' forecast of $6.67, and revenues of $1.45 billion against a prediction of $1.50 billion.
• The company announced an increase in its quarterly dividend from $1.00 to $1.10 per share, indicating a continuing commitment to returning value to shareholders.

Prudential PLC lessened its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 44.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,020 shares of the conglomerate's stock after selling 6,529 shares during the quarter. Prudential PLC's holdings in Carlisle Companies were worth $2,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in Carlisle Companies by 4.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,148,796 shares of the conglomerate's stock valued at $394,244,000 after acquiring an additional 49,102 shares in the last quarter. Madison Asset Management LLC raised its holdings in shares of Carlisle Companies by 28.2% during the 1st 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 in the last quarter. GAMMA Investing LLC boosted its position in Carlisle Companies by 38,164.5% during the first quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock worth $172,635,000 after purchasing an additional 505,680 shares during the period. Bessemer Group Inc. raised 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 purchasing an additional 39,329 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Carlisle Companies by 20.7% during the fourth quarter. Northern Trust Corp now owns 488,608 shares of the conglomerate's stock worth $180,218,000 after purchasing an additional 83,652 shares during the period. Hedge funds and other institutional investors own 89.52% of the company's stock.

Carlisle Companies Price Performance

NYSE:CSL traded up $8.0450 during mid-day trading on Tuesday, reaching $384.9950. The stock had a trading volume of 78,538 shares, compared to its average volume of 462,700. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. Carlisle Companies Incorporated has a one year low of $311.41 and a one year high of $481.26. The firm has a 50 day moving average price of $386.26 and a two-hundred day moving average price of $368.80. The stock has a market capitalization of $16.46 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.20 and a beta of 1.05.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its quarterly 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). 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 period in the previous year, the company earned $6.24 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts expect that Carlisle Companies Incorporated will post 22.31 earnings per share for the current year.

Carlisle Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.1%. 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%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CSL. Wall Street Zen raised shares of Carlisle Companies from a "sell" rating to a "hold" rating in a report on Friday, May 16th. JPMorgan Chase & Co. initiated coverage on Carlisle Companies in a report on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price target on the stock. Robert W. Baird upped their price target 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. Loop Capital cut Carlisle Companies from a "buy" rating to a "hold" rating and cut their price target for the company from $430.00 to $395.00 in a research note on Thursday, July 31st. Finally, Truist Financial reduced their price objective 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. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Carlisle Companies presently has an average rating of "Moderate Buy" and an average target price of $450.83.

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.