Novare Capital Management LLC Buys New Position in Carlisle Companies Incorporated $CSL

Novare Capital Management LLC acquired a new stake in Carlisle Companies Incorporated (NYSE:CSL) in the 3rd quarter, Holdings Channel reports. The firm acquired 25,290 shares of the conglomerate’s stock, valued at approximately $8,319,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Carlisle Companies by 33.2% in the second quarter. JPMorgan Chase & Co. now owns 1,437,703 shares of the conglomerate’s stock worth $536,842,000 after purchasing an additional 358,241 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Carlisle Companies by 11.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,279,031 shares of the conglomerate’s stock valued at $499,052,000 after acquiring an additional 130,235 shares during the last quarter. Bessemer Group Inc. boosted its stake in Carlisle Companies by 26.7% in the second quarter. Bessemer Group Inc. now owns 639,508 shares of the conglomerate’s stock worth $238,791,000 after purchasing an additional 134,718 shares in the last quarter. First Trust Advisors LP lifted its position in Carlisle Companies by 6.7% during the 2nd quarter. First Trust Advisors LP now owns 535,619 shares of the conglomerate’s stock worth $200,000,000 after buying an additional 33,552 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Carlisle Companies by 27.0% during the second quarter. Bank of New York Mellon Corp now owns 490,329 shares of the conglomerate’s stock worth $183,089,000 after purchasing an additional 104,108 shares in the last quarter. Institutional investors own 89.52% of the company’s stock.

Wall Street Analyst Weigh In

CSL has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Carlisle Companies from $410.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlisle Companies in a research note on Monday, December 29th. Robert W. Baird lowered their price target on Carlisle Companies from $440.00 to $385.00 and set an “outperform” rating for the company in a report on Monday, October 13th. Oppenheimer lowered their price objective on shares of Carlisle Companies from $440.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Finally, Truist Financial decreased their price objective on Carlisle Companies from $350.00 to $340.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $386.67.

Carlisle Companies Stock Performance

Shares of CSL stock opened at $345.97 on Wednesday. Carlisle Companies Incorporated has a 52 week low of $293.43 and a 52 week high of $435.92. The company has a market capitalization of $14.46 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.09 and a beta of 0.95. The company has a 50-day simple moving average of $332.49 and a 200 day simple moving average of $349.11. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.62 and a current ratio of 3.25.

Carlisle Companies (NYSE:CSL) last announced its earnings results on Wednesday, October 29th. The conglomerate reported $5.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.47 by $0.14. Carlisle Companies had a return on equity of 40.26% and a net margin of 15.48%.The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $5.78 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Carlisle Companies Incorporated will post 22.31 earnings per share for the current year.

Carlisle Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $4.40 dividend on an annualized basis and a yield of 1.3%. Carlisle Companies’s payout ratio is currently 24.96%.

Carlisle Companies 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.