VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.56 Million in Carlisle Companies Incorporated $CSL

Key Points

• Virginia Retirement Systems acquired 9,820 Carlisle Companies shares worth approximately $3.56 million during the second quarter. Institutional investors collectively own 89.52% of the company.
• Carlisle reported quarterly earnings of $7.03 per share, exceeding estimates of $6.35, while revenue rose 8.3% year over year to $1.57 billion.
• The company increased its quarterly dividend to $1.25 per share, or $5.00 annually, producing a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $402.43.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,820 shares of the conglomerate's stock, valued at approximately $3,562,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSL. BOK Financial Private Wealth Inc. purchased a new stake in Carlisle Companies in the 4th quarter worth about $27,000. Jones Financial Companies Lllp purchased a new position in Carlisle Companies during the second quarter valued at approximately $33,000. Osterweis Capital Management Inc. acquired a new position in Carlisle Companies in the 2nd quarter valued at approximately $35,000. Signature Equity Partners LLC lifted its position in Carlisle Companies by 3,133.3% in the 1st quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock worth $32,000 after buying an additional 94 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new stake in Carlisle Companies in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 89.52% of the company's stock.

Carlisle Companies Stock Down 1.1%

Shares of NYSE:CSL opened at $337.66 on Thursday. Carlisle Companies Incorporated has a 12 month low of $293.43 and a 12 month high of $432.91. The company's 50-day moving average price is $354.90 and its two-hundred day moving average price is $353.61. The firm has a market cap of $13.41 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.07 and a beta of 0.84. The company has a quick ratio of 2.04, a current ratio of 2.60 and a debt-to-equity ratio of 1.78.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.68. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.48 billion. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. Carlisle Companies's revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.27 EPS. As a group, research analysts forecast that Carlisle Companies Incorporated will post 21.27 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $5.00 annualized dividend and a yield of 1.5%. This is an increase from Carlisle Companies's previous quarterly dividend of $1.10. Carlisle Companies's dividend payout ratio (DPR) is presently 28.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSL. DA Davidson started coverage on Carlisle Companies in a report on Monday, August 24th. They set a "neutral" rating and a $410.00 price objective for the company. Truist Financial cut their target price on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Carlisle Companies from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 26th. Finally, Robert W. Baird set a $412.00 price objective on shares of Carlisle Companies in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Carlisle Companies presently has an average rating of "Hold" and a consensus target price of $402.43.

Carlisle Companies Company Profile

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.

Want to see what other hedge funds are holding CSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carlisle Companies Incorporated (NYSE:CSL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.