The Manufacturers Life Insurance Company boosted its stake in shares of Polaris Inc. (NYSE:PII - Free Report) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,262,990 shares of the company's stock after acquiring an additional 69,844 shares during the quarter. The Manufacturers Life Insurance Company owned 4.06% of Polaris worth $188,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC grew its stake in shares of Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company's stock worth $29,000 after purchasing an additional 294 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company's stock valued at $37,000 after acquiring an additional 235 shares in the last quarter. Blue Trust Inc. lifted its stake in Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company's stock worth $32,000 after acquiring an additional 389 shares during the period. Signaturefd LLC boosted its holdings in Polaris by 1,931.3% in the second quarter. Signaturefd LLC now owns 650 shares of the company's stock valued at $51,000 after acquiring an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Polaris during the 2nd quarter valued at $57,000. 88.06% of the stock is currently owned by institutional investors.
Polaris Stock Performance
Polaris stock traded up $0.74 during mid-day trading on Wednesday, reaching $68.25. 847,034 shares of the stock traded hands, compared to its average volume of 731,651. The stock has a market capitalization of $3.81 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 7.44 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The business's 50-day moving average is $75.62 and its 200-day moving average is $78.92. Polaris Inc. has a 12-month low of $64.56 and a 12-month high of $100.91.
Polaris (NYSE:PII - Get Free Report) last announced 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). The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business's quarterly revenue was down 23.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. As a group, sell-side analysts predict that Polaris Inc. will post 3.22 EPS for the current fiscal year.
Polaris Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.87%. Polaris's dividend payout ratio (DPR) is presently 73.74%.
Wall Street Analyst Weigh In
PII has been the topic of a number of research reports. KeyCorp cut their target price on shares of Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. DA Davidson reduced their target price on Polaris from $87.00 to $84.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. StockNews.com cut Polaris from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Robert W. Baird lowered their price objective on Polaris from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price objective on shares of Polaris from $82.00 to $73.00 and set a "sector perform" rating on the stock in a research note on Wednesday, October 23rd. One research 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $87.09.
Read Our Latest Analysis on PII
Polaris Profile
(
Free Report)
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.
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