Truist Financial Corp Purchases 15,687 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Truist Financial Corp increased its stake in Carlisle Companies by 4.1% during the second quarter, acquiring 15,687 shares, which brought its total ownership to 398,172 shares valued at approximately $148.7 million.
• Carlisle Companies recently reported a quarterly earnings miss with earnings per share of $6.27 compared to analysts' expectations of $6.67, alongside a revenue of $1.45 billion, which fell short of the $1.50 billion estimate.
• The company declared an increased quarterly dividend of $1.10 per share, up from $1.00, representing a 1.3% dividend yield and a payout ratio of 24.58%.

Truist Financial Corp lifted its position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 4.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 398,172 shares of the conglomerate's stock after purchasing an additional 15,687 shares during the quarter. Truist Financial Corp owned 0.92% of Carlisle Companies worth $148,677,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CSL. Dagco Inc. bought a new position in Carlisle Companies during the first quarter valued at approximately $27,000. MAI Capital Management boosted its stake in shares of Carlisle Companies by 37.8% in the 1st quarter. MAI Capital Management now owns 124 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 34 shares in the last quarter. CX Institutional bought a new position in shares of Carlisle Companies during the 1st quarter valued at $49,000. Wayfinding Financial LLC purchased a new position in Carlisle Companies in the 1st quarter worth $55,000. Finally, Allworth Financial LP lifted its stake in Carlisle Companies by 32.8% in the first quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock worth $58,000 after purchasing an additional 42 shares during the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

Carlisle Companies Price Performance

Shares of CSL stock opened at $328.64 on Wednesday. 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 fifty-two week low of $311.41 and a fifty-two week high of $481.26. The firm has a market cap of $14.05 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.08 and a beta of 1.05. The business's 50 day moving average price is $374.35 and its 200-day moving average price is $373.32.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced 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). The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.50 billion. Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.The business's revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $6.24 EPS. On average, equities research analysts anticipate that Carlisle Companies Incorporated will post 22.31 earnings per share for the current year.

Carlisle Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $1.10 per share. This is an increase from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, August 19th. Carlisle Companies's dividend payout ratio is presently 24.58%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSL. Loop Capital cut Carlisle Companies from a "buy" rating to a "hold" rating and reduced their price objective for the company from $430.00 to $395.00 in a research note on Thursday, July 31st. Truist Financial reduced their price target on Carlisle Companies from $380.00 to $350.00 and set a "hold" rating on the stock in a research report on Monday, September 22nd. Zacks Research downgraded Carlisle Companies from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Carlisle Companies from $480.00 to $410.00 and set an "overweight" rating for the company in a research note on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $429.17.

Carlisle Companies 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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