Lazard Asset Management LLC Reduces Stock Holdings in Carlisle Companies Incorporated (NYSE:CSL)

Lazard Asset Management LLC lessened its stake in shares of Carlisle Companies Incorporated (NYSE:CSL) by 48.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 35,151 shares of the conglomerate’s stock after selling 32,885 shares during the quarter. Lazard Asset Management LLC’s holdings in Carlisle Companies were worth $13,773,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CSL. Raymond James & Associates increased its position in shares of Carlisle Companies by 1.7% during the fourth quarter. Raymond James & Associates now owns 21,158 shares of the conglomerate’s stock worth $6,610,000 after purchasing an additional 352 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Carlisle Companies by 7.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,180 shares of the conglomerate’s stock valued at $2,556,000 after buying an additional 564 shares during the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Carlisle Companies in the fourth quarter valued at approximately $53,000. PFG Advisors grew its position in shares of Carlisle Companies by 5.2% during the fourth quarter. PFG Advisors now owns 9,022 shares of the conglomerate’s stock worth $2,819,000 after acquiring an additional 443 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Carlisle Companies by 15.5% in the 4th quarter. Fifth Third Bancorp now owns 930 shares of the conglomerate’s stock valued at $291,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 89.52% of the company’s stock.

Insider Activity

In related news, CAO Stephen Aldrich sold 1,095 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $397.50, for a total transaction of $435,262.50. Following the sale, the chief accounting officer now owns 1,624 shares of the company’s stock, valued at $645,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Carlisle Companies news, CAO Stephen Aldrich sold 1,095 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $397.50, for a total transaction of $435,262.50. Following the sale, the chief accounting officer now directly owns 1,624 shares in the company, valued at $645,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David W. Smith sold 2,037 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $405.58, for a total value of $826,166.46. Following the completion of the transaction, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $1,149,413.72. The disclosure for this sale can be found here. Insiders sold 58,059 shares of company stock worth $24,334,065 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Carlisle Companies Stock Performance

NYSE:CSL traded up $13.99 during mid-day trading on Friday, reaching $424.66. The stock had a trading volume of 509,810 shares, compared to its average volume of 355,715. Carlisle Companies Incorporated has a twelve month low of $235.79 and a twelve month high of $443.87. The business has a 50 day simple moving average of $416.62 and a 200 day simple moving average of $381.06. The firm has a market capitalization of $20.21 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 2.95.

Carlisle Companies (NYSE:CSL) last posted its quarterly earnings results on Wednesday, July 24th. The conglomerate reported $6.24 EPS for the quarter, beating the consensus estimate of $5.84 by $0.40. Carlisle Companies had a return on equity of 32.02% and a net margin of 27.88%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $5.18 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Carlisle Companies Incorporated will post 20.58 earnings per share for the current fiscal year.

Carlisle Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.80%. Carlisle Companies’s dividend payout ratio (DPR) is presently 19.71%.

Analyst Ratings Changes

Several brokerages have issued reports on CSL. Robert W. Baird raised their price objective on shares of Carlisle Companies from $465.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group assumed coverage on Carlisle Companies in a report on Wednesday, April 3rd. They set a “buy” rating and a $455.00 price target on the stock. Loop Capital upped their price objective on Carlisle Companies from $375.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Oppenheimer lifted their target price on Carlisle Companies from $412.00 to $430.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $423.00.

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.