HighTower Advisors LLC Trims Stake in Carlisle Companies Incorporated $CSL

HighTower Advisors LLC decreased its holdings in shares of Carlisle Companies Incorporated (NYSE:CSL) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,386 shares of the conglomerate’s stock after selling 2,548 shares during the quarter. HighTower Advisors LLC’s holdings in Carlisle Companies were worth $11,385,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in Carlisle Companies by 36.9% in the first quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate’s stock worth $35,912,000 after acquiring an additional 28,414 shares in the last quarter. Baird Financial Group Inc. raised its position in Carlisle Companies by 8.4% during the second quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate’s stock valued at $952,000 after purchasing an additional 197 shares in the last quarter. Jump Financial LLC purchased a new stake in Carlisle Companies during the second quarter valued at about $1,345,000. Bank of Nova Scotia lifted its stake in Carlisle Companies by 118.6% during the second quarter. Bank of Nova Scotia now owns 1,646 shares of the conglomerate’s stock worth $615,000 after purchasing an additional 893 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Carlisle Companies by 40.0% during the second quarter. Sei Investments Co. now owns 115,396 shares of the conglomerate’s stock worth $43,088,000 after purchasing an additional 32,996 shares during the last quarter. 89.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CSL shares. DA Davidson initiated coverage on Carlisle Companies in a research report on Monday, August 24th. They set a “neutral” rating and a $410.00 price objective on the stock. Robert W. Baird set a $412.00 target price on Carlisle Companies in a research report on Thursday, July 30th. Truist Financial reduced their price target on shares of Carlisle Companies from $360.00 to $340.00 and set a “hold” rating on the stock in a research report on Tuesday, July 7th. Finally, Weiss Ratings raised shares of Carlisle Companies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carlisle Companies presently has an average rating of “Hold” and an average price target of $402.43.

Carlisle Companies Stock Performance

NYSE CSL opened at $337.66 on Thursday. The company has a 50-day simple moving average of $354.90 and a two-hundred day simple moving average of $353.61. Carlisle Companies Incorporated has a 12-month low of $293.43 and a 12-month high of $432.91. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of 19.37, a PEG 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) last released its quarterly earnings data on Wednesday, July 29th. The conglomerate reported $7.03 EPS for the quarter, topping the consensus estimate of $6.35 by $0.68. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%.The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $6.27 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Carlisle Companies Incorporated will post 21.27 EPS for the current year.

Carlisle Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were paid a $1.25 dividend. This is an increase from Carlisle Companies’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $5.00 dividend on an annualized basis and a yield of 1.5%. Carlisle Companies’s payout ratio is presently 28.69%.

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.