Janney Montgomery Scott LLC lifted its holdings in Polaris Industries Inc. (NYSE:PII) by 28.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,877 shares of the company’s stock after acquiring an additional 641 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Polaris Industries were worth $352,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in PII. Artisan Partners Limited Partnership acquired a new stake in shares of Polaris Industries in the first quarter worth $58,903,000. The Manufacturers Life Insurance Company increased its stake in shares of Polaris Industries by 6.7% in the first quarter. The Manufacturers Life Insurance Company now owns 5,607,622 shares of the company’s stock worth $642,185,000 after acquiring an additional 350,957 shares during the period. Mackay Shields LLC acquired a new stake in shares of Polaris Industries in the first quarter worth $29,230,000. BlackRock Inc. increased its stake in shares of Polaris Industries by 2.4% in the first quarter. BlackRock Inc. now owns 5,599,578 shares of the company’s stock worth $641,264,000 after acquiring an additional 132,402 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Polaris Industries by 49.4% in the first quarter. Prudential Financial Inc. now owns 363,294 shares of the company’s stock worth $41,604,000 after acquiring an additional 120,066 shares during the period. Hedge funds and other institutional investors own 86.78% of the company’s stock.
Shares of NYSE PII opened at $108.25 on Monday. Polaris Industries Inc. has a 1 year low of $87.53 and a 1 year high of $137.66. The firm has a market cap of $6.69 billion, a P/E ratio of 22.32, a PEG ratio of 1.10 and a beta of 0.97. The company has a current ratio of 1.27, a quick ratio of 0.44 and a debt-to-equity ratio of 1.22.
Polaris Industries (NYSE:PII) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.14. Polaris Industries had a net margin of 4.58% and a return on equity of 40.51%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. research analysts anticipate that Polaris Industries Inc. will post 6.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, August 30th. Polaris Industries’s payout ratio is 49.48%.
PII has been the topic of a number of research reports. TheStreet upgraded shares of Polaris Industries from a “c+” rating to a “b” rating in a research note on Tuesday, April 24th. BMO Capital Markets cut their price objective on shares of Polaris Industries to $105.00 and set a “market perform” rating on the stock in a research note on Friday, April 27th. ValuEngine upgraded shares of Polaris Industries from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Stifel Nicolaus increased their price objective on shares of Polaris Industries from $113.00 to $118.00 and gave the stock a “hold” rating in a research note on Thursday, May 31st. Finally, Wedbush set a $124.00 price target on shares of Polaris Industries and gave the stock a “hold” rating in a report on Thursday, May 31st. Thirteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $116.46.
In other Polaris Industries news, CEO Scott W. Wine sold 245,000 shares of the stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $118.36, for a total transaction of $28,998,200.00. Following the transaction, the chief executive officer now directly owns 357,154 shares of the company’s stock, valued at $42,272,747.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Robert Paul Mack sold 762 shares of the stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $125.51, for a total transaction of $95,638.62. Following the transaction, the senior vice president now directly owns 21,991 shares in the company, valued at $2,760,090.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 300,012 shares of company stock worth $35,932,249. Insiders own 2.40% of the company’s stock.
Polaris Industries Company Profile
Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. The company operates through four segments: Off-Road Vehicles (ORVs)/Snowmobiles, Motorcycles, Global Adjacent Markets, and Aftermarket. It offers ORVs, including all-terrain vehicles and side-by-side vehicles for recreational and utility use; snowmobiles; motorcycles; and low emission, light duty hauling, passenger, commercial, and industrial vehicles, as well as snow bike conversion kit systems.
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