Confluence Investment Management LLC Trims Stake in Polaris Inc. (NYSE:PII)

Confluence Investment Management LLC lessened its holdings in Polaris Inc. (NYSE:PII - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,018,304 shares of the company's stock after selling 21,055 shares during the quarter. Confluence Investment Management LLC owned approximately 1.83% of Polaris worth $58,675,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Polaris by 12.2% in the 3rd quarter. Franklin Resources Inc. now owns 169,004 shares of the company's stock valued at $13,745,000 after buying an additional 18,418 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Polaris in the third quarter worth approximately $535,000. Toronto Dominion Bank boosted its holdings in Polaris by 2.9% in the third quarter. Toronto Dominion Bank now owns 16,484 shares of the company's stock valued at $1,372,000 after acquiring an additional 465 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Polaris during the 3rd quarter valued at approximately $516,000. Finally, M&T Bank Corp increased its position in Polaris by 10.9% during the 3rd quarter. M&T Bank Corp now owns 3,141 shares of the company's stock valued at $261,000 after purchasing an additional 309 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Polaris Stock Down 2.2 %

NYSE PII traded down $1.24 on Thursday, reaching $56.38. The company had a trading volume of 653,704 shares, compared to its average volume of 753,131. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company's fifty day moving average is $65.19 and its 200 day moving average is $75.24. Polaris Inc. has a 52-week low of $55.55 and a 52-week high of $100.91. The stock has a market capitalization of $3.14 billion, a P/E ratio of 15.75, a P/E/G ratio of 6.59 and a beta of 1.51.

Polaris (NYSE:PII - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $2.71 earnings per share. The business's revenue was down 23.4% on a year-over-year basis. Sell-side analysts anticipate that Polaris Inc. will post 3.22 earnings per share for the current fiscal year.

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, December 2nd. Polaris's dividend payout ratio (DPR) is currently 73.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PII shares. DA Davidson reduced their price objective on shares of Polaris from $87.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Robert W. Baird cut their price target on shares of Polaris from $84.00 to $72.00 and set an "outperform" rating on the stock in a research report on Monday. Royal Bank of Canada decreased their price target on Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a report on Wednesday, October 23rd. StockNews.com raised Polaris from a "sell" rating to a "hold" rating in a research note on Monday. Finally, KeyCorp decreased their target price on Polaris from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $86.00.

Polaris Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.