Truist Financial Corp Increases Stake in Carlisle Companies Incorporated (NYSE:CSL)

Truist Financial Corp raised its stake in Carlisle Companies Incorporated (NYSE:CSL) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 334,241 shares of the conglomerate’s stock after acquiring an additional 2,545 shares during the quarter. Truist Financial Corp owned approximately 0.70% of Carlisle Companies worth $135,438,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. TD Asset Management Inc boosted its stake in shares of Carlisle Companies by 2,073.5% during the 2nd quarter. TD Asset Management Inc now owns 281,643 shares of the conglomerate’s stock worth $114,125,000 after acquiring an additional 268,685 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Carlisle Companies by 666.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 227,949 shares of the conglomerate’s stock worth $71,218,000 after buying an additional 198,191 shares during the period. Epoch Investment Partners Inc. acquired a new position in shares of Carlisle Companies during the 2nd quarter worth approximately $65,041,000. Wellington Management Group LLP lifted its position in shares of Carlisle Companies by 1,074.0% during the 4th quarter. Wellington Management Group LLP now owns 152,001 shares of the conglomerate’s stock valued at $47,490,000 after buying an additional 139,054 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Carlisle Companies in the 1st quarter valued at $31,218,000. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Carlisle Companies from $465.00 to $500.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Oppenheimer reissued an “outperform” rating and set a $480.00 target price (up previously from $475.00) on shares of Carlisle Companies in a report on Wednesday, September 4th. Finally, StockNews.com downgraded Carlisle Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $468.75.

Insider Activity

In other news, VP David W. Smith sold 600 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $425.56, for a total transaction of $255,336.00. Following the transaction, the vice president now directly owns 2,834 shares of the company’s stock, valued at $1,206,037.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP David W. Smith sold 600 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $425.56, for a total value of $255,336.00. Following the completion of the sale, the vice president now directly owns 2,834 shares of the company’s stock, valued at $1,206,037.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin P. Zdimal sold 21,470 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $425.29, for a total transaction of $9,130,976.30. Following the completion of the transaction, the chief financial officer now owns 35,641 shares in the company, valued at $15,157,760.89. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Carlisle Companies Price Performance

Shares of CSL opened at $449.36 on Tuesday. The firm has a 50-day simple moving average of $412.46 and a two-hundred day simple moving average of $406.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.89 and a quick ratio of 2.50. Carlisle Companies Incorporated has a 1-year low of $235.79 and a 1-year high of $450.70. The stock has a market cap of $21.39 billion, a PE ratio of 26.05, a P/E/G ratio of 1.43 and a beta of 0.90.

Carlisle Companies (NYSE:CSL) last issued its earnings results on Wednesday, July 24th. The conglomerate reported $6.24 earnings per share for the quarter, topping the consensus estimate of $5.84 by $0.40. Carlisle Companies had a net margin of 27.88% and a return on equity of 31.65%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business posted $5.18 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Carlisle Companies Incorporated will post 20.57 EPS for the current year.

Carlisle Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Carlisle Companies’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, August 20th. Carlisle Companies’s dividend payout ratio is presently 23.19%.

Carlisle Companies Company 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.