Raymond James & Associates cut its stake in shares of Polaris Industries Inc. (NYSE:PII) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 370,636 shares of the company’s stock after selling 43,586 shares during the quarter. Raymond James & Associates’ holdings in Polaris Industries were worth $45,956,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Calton & Associates Inc. acquired a new stake in shares of Polaris Industries during the fourth quarter worth $112,000. Gradient Investments LLC acquired a new stake in shares of Polaris Industries during the fourth quarter worth $113,000. Delpha Capital Management LLC acquired a new stake in shares of Polaris Industries during the fourth quarter worth $120,000. NuWave Investment Management LLC acquired a new stake in shares of Polaris Industries during the fourth quarter worth $123,000. Finally, Assetmark Inc. lifted its holdings in shares of Polaris Industries by 1,097.8% during the fourth quarter. Assetmark Inc. now owns 1,078 shares of the company’s stock worth $134,000 after purchasing an additional 988 shares during the period. 85.15% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on PII. Royal Bank of Canada raised Polaris Industries from an “underperform” rating to a “sector perform” rating and set a $127.00 price target for the company in a report on Monday, January 22nd. Zacks Investment Research downgraded Polaris Industries from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. BMO Capital Markets reissued a “hold” rating and issued a $105.00 target price on shares of Polaris Industries in a report on Wednesday, January 31st. Sanford C. Bernstein restated a “market perform” rating and issued a $144.00 price target (up previously from $121.00) on shares of Polaris Industries in a research report on Monday, January 29th. Finally, Citigroup dropped their price target on Polaris Industries from $136.00 to $129.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $112.50.
Polaris Industries (NYSE:PII) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $1.47 EPS for the quarter, hitting analysts’ consensus estimates of $1.47. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Polaris Industries had a return on equity of 35.38% and a net margin of 3.18%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. analysts expect that Polaris Industries Inc. will post 6.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, February 28th. This is a boost from Polaris Industries’s previous quarterly dividend of $0.58. Polaris Industries’s dividend payout ratio (DPR) is currently 89.22%.
Polaris Industries Profile
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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