Ontario Teachers Pension Plan Board Sells 24,260 Shares of Polaris Inc. (NYSE:PII)

Ontario Teachers Pension Plan Board decreased its stake in shares of Polaris Inc. (NYSE:PII - Free Report) by 66.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,173 shares of the company's stock after selling 24,260 shares during the period. Ontario Teachers Pension Plan Board's holdings in Polaris were worth $1,013,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC lifted its stake in Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company's stock valued at $29,000 after buying an additional 294 shares in the last quarter. Blue Trust Inc. boosted its position in Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company's stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Bessemer Group Inc. grew its stake in Polaris by 174.1% in the first quarter. Bessemer Group Inc. now owns 370 shares of the company's stock valued at $37,000 after purchasing an additional 235 shares in the last quarter. Signaturefd LLC raised its position in Polaris by 1,931.3% during the second quarter. Signaturefd LLC now owns 650 shares of the company's stock worth $51,000 after acquiring an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Polaris during the 2nd quarter worth about $57,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Polaris Price Performance

PII traded up $1.13 during midday trading on Thursday, hitting $66.35. The stock had a trading volume of 114,386 shares, compared to its average volume of 726,383. The business has a fifty day moving average of $76.71 and a 200 day moving average of $79.44. Polaris Inc. has a 1 year low of $64.56 and a 1 year high of $100.91. The company has a market cap of $3.70 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 6.88 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21.

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

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris's dividend payout ratio is 73.74%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PII. Robert W. Baird lowered their target price on Polaris from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. DA Davidson decreased their target price on shares of Polaris from $87.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Roth Mkm dropped their price objective on Polaris from $92.00 to $79.00 and set a "neutral" rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada cut their price objective on shares of Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 23rd. Finally, Longbow Research reaffirmed a "neutral" rating on shares of Polaris in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $87.09.

Polaris Company 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.