Nisa Investment Advisors LLC decreased its holdings in shares of Polaris Industries Inc. (NYSE:PII) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,790 shares of the company’s stock after selling 1,400 shares during the period. Nisa Investment Advisors LLC owned about 0.05% of Polaris Industries worth $2,991,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in shares of Polaris Industries by 1.9% in the first quarter. The Manufacturers Life Insurance Company now owns 5,788,808 shares of the company’s stock valued at $488,749,000 after purchasing an additional 106,531 shares in the last quarter. BlackRock Inc. raised its stake in Polaris Industries by 0.9% during the first quarter. BlackRock Inc. now owns 5,785,774 shares of the company’s stock worth $488,496,000 after acquiring an additional 52,706 shares in the last quarter. Wells Fargo & Company MN raised its stake in Polaris Industries by 5.2% during the first quarter. Wells Fargo & Company MN now owns 3,110,047 shares of the company’s stock worth $262,581,000 after acquiring an additional 153,755 shares in the last quarter. Confluence Investment Management LLC raised its stake in Polaris Industries by 1.4% during the first quarter. Confluence Investment Management LLC now owns 1,153,620 shares of the company’s stock worth $97,400,000 after acquiring an additional 15,935 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Polaris Industries by 16.7% during the fourth quarter. Geode Capital Management LLC now owns 615,100 shares of the company’s stock worth $47,134,000 after acquiring an additional 87,843 shares in the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.
Several research analysts have issued reports on PII shares. BMO Capital Markets upgraded Polaris Industries from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $96.00 to $99.00 in a research note on Tuesday, May 21st. UBS Group upgraded Polaris Industries from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $97.00 to $105.00 in a research note on Wednesday, July 31st. Raymond James lowered their target price on Polaris Industries from $115.00 to $108.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Lake Street Capital raised their target price on Polaris Industries from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Zacks Investment Research upgraded Polaris Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Polaris Industries has an average rating of “Buy” and a consensus price target of $106.42.
Polaris Industries (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.07. Polaris Industries had a return on equity of 45.12% and a net margin of 4.94%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business earned $1.77 earnings per share. The company’s revenue was up 18.4% compared to the same quarter last year. As a group, sell-side analysts expect that Polaris Industries Inc. will post 6.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, August 30th. Polaris Industries’s dividend payout ratio is currently 37.20%.
About Polaris Industries
Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five 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 bike conversion kit systems; motorcycles; low emission, light duty hauling, passenger, and industrial vehicles; and boats.
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