Cadence Capital Management LLC lifted its position in Polaris Industries Inc. (NYSE:PII) by 31.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,855 shares of the company’s stock after acquiring an additional 4,002 shares during the quarter. Cadence Capital Management LLC’s holdings in Polaris Industries were worth $1,702,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of PII. Mainstay Capital Management LLC ADV grew its position in shares of Polaris Industries by 9,266.6% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 773,404 shares of the company’s stock worth $6,539,000 after acquiring an additional 765,147 shares in the last quarter. BlackRock Inc. grew its position in shares of Polaris Industries by 2.8% in the 2nd quarter. BlackRock Inc. now owns 5,754,365 shares of the company’s stock worth $703,068,000 after acquiring an additional 154,787 shares in the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of Polaris Industries in the 2nd quarter worth approximately $13,227,000. Morgan Stanley grew its position in shares of Polaris Industries by 41.8% in the 2nd quarter. Morgan Stanley now owns 360,660 shares of the company’s stock worth $44,064,000 after acquiring an additional 106,354 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Polaris Industries by 1.5% in the 3rd quarter. Wells Fargo & Company MN now owns 2,971,943 shares of the company’s stock worth $300,017,000 after acquiring an additional 43,617 shares in the last quarter. Institutional investors own 84.07% of the company’s stock.
NYSE:PII opened at $90.96 on Friday. Polaris Industries Inc. has a 12-month low of $84.63 and a 12-month high of $137.66. The company has a market cap of $5.91 billion, a P/E ratio of 18.75, a P/E/G ratio of 0.97 and a beta of 1.01. 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.29. Polaris Industries had a return on equity of 43.14% and a net margin of 4.68%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts expect that Polaris Industries Inc. will post 6.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a dividend of $0.60 per share. The ex-dividend date is Friday, November 30th. This represents a $2.40 dividend on an annualized basis and a yield of 2.64%. Polaris Industries’s dividend payout ratio is currently 49.48%.
Several research analysts have recently commented on PII shares. Zacks Investment Research lowered Polaris Industries from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Wedbush reiterated a “neutral” rating and issued a $98.00 target price (down previously from $109.00) on shares of Polaris Industries in a research report on Monday, October 15th. B. Riley upgraded Polaris Industries from a “neutral” rating to a “buy” rating and set a $126.00 target price for the company in a research report on Tuesday, October 23rd. Citigroup boosted their price objective on Polaris Industries from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, Northcoast Research restated a “hold” rating on shares of Polaris Industries in a research report on Saturday, October 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Polaris Industries has a consensus rating of “Hold” and an average price target of $111.23.
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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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