Carlisle Companies Incorporated $CSL Stake Cut by Synovus Financial Corp

Synovus Financial Corp lessened its holdings in Carlisle Companies Incorporated (NYSE:CSL) by 58.5% in the third quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of CSL. Advisors Capital Management LLC acquired a new position in shares of Carlisle Companies in the 3rd quarter valued at about $213,000. Waycross Partners LLC acquired a new position in Carlisle Companies in the third quarter valued at approximately $13,236,000. First National Bank of Omaha acquired a new position in Carlisle Companies in the third quarter valued at approximately $2,096,000. Glenview Trust Co grew its holdings in shares of Carlisle Companies by 1,683.9% during the third quarter. Glenview Trust Co now owns 35,536 shares of the conglomerate’s stock valued at $11,690,000 after purchasing an additional 33,544 shares during the last quarter. Finally, M&G PLC acquired a new stake in shares of Carlisle Companies during the 3rd quarter worth approximately $11,913,000. 89.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carlisle Companies

In other Carlisle Companies news, CFO Kevin P. Zdimal sold 24,180 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $408.04, for a total transaction of $9,866,407.20. Following the completion of the transaction, the chief financial officer directly owned 30,094 shares of the company’s stock, valued at approximately $12,279,555.76. This trade represents a 44.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David W. Smith sold 1,800 shares of Carlisle Companies stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $414.05, for a total value of $745,290.00. Following the transaction, the vice president owned 3,697 shares in the company, valued at approximately $1,530,742.85. This trade represents a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 68,289 shares of company stock valued at $28,125,467. 1.40% of the stock is currently owned by company insiders.

Carlisle Companies Stock Performance

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

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

Carlisle Companies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CSL shares. Truist Financial reduced their price objective 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. William Blair began coverage on shares of Carlisle Companies in a report on Friday, January 30th. They set a “market perform” rating for the company. Robert W. Baird set a $420.00 price target on shares of Carlisle Companies in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carlisle Companies in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Carlisle Companies from $410.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $392.50.

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.