Carlisle Companies Incorporated $CSL Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its stake in shares of Carlisle Companies Incorporated (NYSE:CSL) by 58.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,708 shares of the conglomerate’s stock after selling 2,408 shares during the period. Synovus Financial Corp’s holdings in Carlisle Companies were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Carlisle Companies by 33.2% in the second quarter. JPMorgan Chase & Co. now owns 1,437,703 shares of the conglomerate’s stock valued at $536,842,000 after acquiring an additional 358,241 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Carlisle Companies by 113.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,049,039 shares of the conglomerate’s stock worth $345,092,000 after purchasing an additional 558,710 shares during the period. Bessemer Group Inc. lifted its stake in shares of Carlisle Companies by 2.5% in the 3rd quarter. Bessemer Group Inc. now owns 655,342 shares of the conglomerate’s stock valued at $215,582,000 after purchasing an additional 15,834 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of 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 purchasing an additional 33,552 shares during the period. Finally, Sands Capital Management LLC acquired a new stake in Carlisle Companies during the 2nd quarter worth approximately $159,203,000. 89.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carlisle Companies

In related news, CEO D Christian Koch sold 36,260 shares of Carlisle Companies stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $413.38, for a total value of $14,989,158.80. Following the completion of the transaction, the chief executive officer directly owned 113,238 shares in the company, valued at approximately $46,810,324.44. This trade represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin P. Zdimal sold 24,180 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $408.04, for a total value of $9,866,407.20. Following the completion of the sale, the chief financial officer directly owned 30,094 shares of the company’s stock, valued at approximately $12,279,555.76. This represents a 44.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 68,289 shares of company stock valued at $28,125,467 in the last 90 days. 1.40% of the stock is currently owned by insiders.

Carlisle Companies Trading Up 0.3%

Shares of CSL opened at $408.77 on Monday. Carlisle Companies Incorporated has a one year low of $293.43 and a one year high of $435.92. The stock has a 50-day moving average price of $358.54 and a 200 day moving average price of $348.01. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.49 and a current ratio of 3.09. The company has a market capitalization of $16.71 billion, a P/E ratio of 23.89, a P/E/G ratio of 1.30 and a beta of 0.94.

Carlisle Companies (NYSE:CSL) last announced its earnings results on Tuesday, February 3rd. The conglomerate reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.30. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Carlisle Companies had a return on equity of 41.58% and a net margin of 14.76%.Carlisle Companies’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $4.47 EPS. Sell-side analysts forecast that Carlisle Companies Incorporated will post 22.31 EPS for the current fiscal year.

Carlisle Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, February 17th. Carlisle Companies’s dividend payout ratio is 25.72%.

Wall Street Analysts Forecast Growth

CSL has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlisle Companies in a research report on Monday, December 29th. William Blair started coverage on shares of Carlisle Companies in a report on Friday, January 30th. They set a “market perform” rating on the stock. Robert W. Baird set a $420.00 price target on Carlisle Companies in a report on Wednesday, February 4th. JPMorgan Chase & Co. cut their price objective on Carlisle Companies from $410.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Truist Financial decreased their target price on Carlisle Companies from $350.00 to $340.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carlisle Companies has an average rating of “Hold” and a consensus price target of $392.50.

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.