Icon Advisers Inc. Co. reduced its holdings in shares of Polaris Industries Inc. (NYSE:PII) by 10.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,808 shares of the company’s stock after selling 11,451 shares during the period. Icon Advisers Inc. Co. owned about 0.16% of Polaris Industries worth $9,773,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its position in Polaris Industries by 2.8% during the second quarter. BlackRock Inc. now owns 5,754,365 shares of the company’s stock valued at $703,068,000 after acquiring an additional 154,787 shares during the last quarter. Wells Fargo & Company MN grew its position in Polaris Industries by 1.5% during the third quarter. Wells Fargo & Company MN now owns 2,971,943 shares of the company’s stock valued at $300,017,000 after acquiring an additional 43,617 shares during the last quarter. FMR LLC grew its position in Polaris Industries by 0.5% during the second quarter. FMR LLC now owns 1,309,355 shares of the company’s stock valued at $159,977,000 after acquiring an additional 6,500 shares during the last quarter. Confluence Investment Management LLC grew its position in Polaris Industries by 4.4% during the second quarter. Confluence Investment Management LLC now owns 1,132,105 shares of the company’s stock valued at $138,321,000 after acquiring an additional 47,364 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Polaris Industries by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 826,713 shares of the company’s stock valued at $101,007,000 after acquiring an additional 5,597 shares during the last quarter. Institutional investors and hedge funds own 84.07% of the company’s stock.
PII has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Polaris Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Wells Fargo & Co reduced their price target on shares of Polaris Industries from $132.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, July 26th. Royal Bank of Canada reiterated a “hold” rating and set a $108.00 price target on shares of Polaris Industries in a research report on Thursday, July 26th. Northcoast Research reissued a “hold” rating on shares of Polaris Industries in a research note on Saturday, October 20th. Finally, Wedbush reissued a “neutral” rating and set a $98.00 price objective (down previously from $109.00) on shares of Polaris Industries in a research note on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $111.23.
NYSE:PII opened at $95.61 on Wednesday. The company has a market cap of $6.01 billion, a PE ratio of 19.71, a P/E/G ratio of 0.99 and a beta of 1.01. Polaris Industries Inc. has a fifty-two week low of $84.63 and a fifty-two week high of $137.66. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 2.00.
Polaris Industries (NYSE:PII) last released its quarterly earnings data on Monday, October 22nd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.29. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Polaris Industries had a return on equity of 43.14% and a net margin of 4.68%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Sell-side analysts anticipate that Polaris Industries Inc. will post 6.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, November 30th. Polaris Industries’s dividend payout ratio (DPR) is presently 49.48%.
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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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