Texas Permanent School Fund reduced its stake in Polaris Inc. (NYSE:PII – Get Rating) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 40,439 shares of the company’s stock after selling 866 shares during the quarter. Texas Permanent School Fund owned 0.07% of Polaris worth $4,259,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC acquired a new stake in Polaris during the 1st quarter worth approximately $27,000. Leverty Financial Group LLC acquired a new stake in Polaris during the 4th quarter worth approximately $39,000. Disciplined Investments LLC acquired a new stake in Polaris during the 1st quarter worth approximately $43,000. Stonebridge Capital Advisors LLC lifted its holdings in Polaris by 370.7% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 546 shares of the company’s stock worth $60,000 after buying an additional 430 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in Polaris during the 4th quarter worth approximately $64,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PII. BMO Capital Markets reduced their target price on shares of Polaris from $165.00 to $138.00 in a report on Wednesday, April 27th. Robert W. Baird reduced their price objective on shares of Polaris from $135.00 to $130.00 in a report on Wednesday, July 27th. DA Davidson began coverage on shares of Polaris in a report on Wednesday, May 4th. They issued a “neutral” rating and a $99.00 price objective on the stock. Northcoast Research restated a “buy” rating on shares of Polaris in a report on Tuesday, May 17th. Finally, Citigroup reduced their price objective on shares of Polaris from $145.00 to $139.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.36.
Polaris Trading Down 1.1 %
Polaris (NYSE:PII – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.36. Polaris had a net margin of 3.27% and a return on equity of 41.72%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm posted $2.70 EPS. Polaris’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts forecast that Polaris Inc. will post 10.12 earnings per share for the current year.
Polaris Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, August 31st. Polaris’s dividend payout ratio (DPR) is presently 59.53%.
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through six segments: ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
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