Riverhead Capital Management LLC cut its holdings in Polaris Industries Inc. (NYSE:PII) by 17.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,401 shares of the company’s stock after selling 1,950 shares during the quarter. Riverhead Capital Management LLC’s holdings in Polaris Industries were worth $1,149,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in PII. Artisan Partners Limited Partnership acquired a new stake in shares of Polaris Industries in the first quarter valued at $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 valued at $642,185,000 after buying an additional 350,957 shares in the last quarter. BlackRock Inc. increased its stake in shares of Polaris Industries by 2.8% in the second quarter. BlackRock Inc. now owns 5,754,365 shares of the company’s stock valued at $703,068,000 after buying an additional 154,787 shares in the last quarter. 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 valued at $41,604,000 after buying an additional 120,066 shares in the last quarter. Finally, Icon Advisers Inc. Co. acquired a new stake in shares of Polaris Industries in the second quarter valued at $13,227,000. Institutional investors own 83.50% of the company’s stock.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Tuesday, August 7th. ValuEngine upgraded Polaris Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Stifel Nicolaus lowered their price objective on Polaris Industries from $123.00 to $114.00 and set a “hold” rating for the company in a research report on Thursday, July 26th. BMO Capital Markets lifted their price objective on Polaris Industries from $105.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, June 1st. Finally, Stephens set a $99.00 price objective on Polaris Industries and gave the stock a “hold” rating in a research report on Friday, July 27th. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $116.46.
Shares of PII opened at $108.70 on Wednesday. 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 Inc. has a 1 year low of $93.15 and a 1 year high of $137.66. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 1.11 and a beta of 0.98.
Polaris Industries (NYSE:PII) last issued its 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 return on equity of 40.51% and a net margin of 4.58%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business earned $1.16 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. equities analysts predict that Polaris Industries Inc. will post 6.52 earnings per share for the current year.
The business also recently announced 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, August 30th. Polaris Industries’s dividend payout ratio (DPR) is currently 49.48%.
In other Polaris Industries news, Director George W. Bilicic acquired 1,195 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were acquired at an average price of $104.61 per share, for a total transaction of $125,008.95. Following the acquisition, the director now directly owns 6,239 shares of the company’s stock, valued at approximately $652,661.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott W. Wine bought 3,000 shares of the business’s stock in a transaction on Friday, July 27th. The stock was purchased at an average price of $104.09 per share, for a total transaction of $312,270.00. Following the purchase, the chief executive officer now directly owns 335,154 shares in the company, valued at approximately $34,886,179.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 30,512 shares of company stock worth $3,864,689. Company insiders own 2.40% of the company’s stock.
Polaris Industries 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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