Praxis Investment Management Reduces Stake in Carlisle Companies by 15.5%

Praxis Investment Management Inc. has reduced its holdings in Carlisle Companies Incorporated (NYSE: CSL) by 15.5% during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now owns 1,310 shares after selling 240 shares during this period. As of the latest reporting, Praxis’s stake in Carlisle was valued at approximately $489,000.

Several other institutional investors have also adjusted their positions in Carlisle Companies recently. GAMMA Investing LLC increased its holdings by 12.4% in the first quarter, bringing its total to 1,489 shares valued at $507,000 after acquiring an additional 164 shares. Similarly, SG Americas Securities LLC significantly boosted its stake by 253.9%, resulting in ownership of 1,412 shares worth $481,000 after adding 1,013 shares.

Janney Montgomery Scott LLC raised its holdings by 3.9%, now owning 6,163 shares valued at $2,099,000. The State of Alaska Department of Revenue also increased its position by 0.9%, owning 5,199 shares worth $1,770,000. Additionally, Blue Trust Inc. grew its stake by 33.9%, bringing its total to 446 shares valued at $152,000. Overall, institutional investors control approximately 89.52% of Carlisle Companies’ stock.

Stock Performance and Dividend Update

As of the latest trading session, Carlisle Companies’ stock opened at $323.56, with a market capitalization of $13.83 billion. The company has a price-to-earnings ratio of 18.08 and a price-to-earnings-growth ratio of 1.08. Financial metrics indicate a quick ratio of 1.47, a current ratio of 2.19, and a debt-to-equity ratio of 0.89. Over the past year, the stock has experienced a low of $311.41 and a high of $474.73.

On September 2, 2023, Carlisle Companies distributed a quarterly dividend of $1.10 per share to shareholders, an increase from the previous $1.00 dividend. This annualizes to $4.40 with a dividend yield of 1.4%. The ex-dividend date was set for August 19, 2023, and the company’s current dividend payout ratio stands at 24.58%.

Analyst Ratings and Future Outlook

Recent research reports have produced mixed recommendations for Carlisle Companies. Truist Financial reduced its price target from $380.00 to $350.00, maintaining a “hold” rating. Similarly, Robert W. Baird lowered its target from $440.00 to $385.00 but retained an “outperform” rating.

The Goldman Sachs Group also adjusted its price target from $444.00 to $385.00, continuing to recommend a “buy” rating. Conversely, JPMorgan Chase & Co. lowered its price target from $480.00 to $410.00, while Loop Capital downgraded its rating from “buy” to “hold” with a new target of $395.00.

Currently, four analysts have rated the stock as a “buy,” four as a “hold,” and one as a “sell.” According to MarketBeat.com, Carlisle Companies has an average rating of “hold” and a price target of $403.33.

Carlisle Companies Incorporated is a leading manufacturer and supplier of building envelope products and solutions, operating in regions including the United States, Europe, and Asia. The company operates through two principal segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.