Sit Investment Associates Inc. Cuts Stake in Polaris Industries Inc. (PII)
Sit Investment Associates Inc. lowered its position in Polaris Industries Inc. (NYSE:PII) by 30.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 172,560 shares of the company’s stock after selling 74,400 shares during the period. Sit Investment Associates Inc. owned 0.27% of Polaris Industries worth $14,109,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. PGGM Investments boosted its stake in shares of Polaris Industries by 116.2% in the second quarter. PGGM Investments now owns 392,021 shares of the company’s stock worth $32,052,000 after buying an additional 210,736 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Polaris Industries by 14.0% in the first quarter. Geode Capital Management LLC now owns 480,365 shares of the company’s stock worth $47,283,000 after buying an additional 59,146 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Polaris Industries by 1.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 57,971 shares of the company’s stock worth $5,709,000 after buying an additional 1,071 shares during the last quarter. Raub Brock Capital Management LP boosted its stake in shares of Polaris Industries by 12.9% in the second quarter. Raub Brock Capital Management LP now owns 135,358 shares of the company’s stock worth $11,067,000 after buying an additional 15,495 shares during the last quarter. Finally, Dividend Assets Capital LLC boosted its stake in shares of Polaris Industries by 7.7% in the second quarter. Dividend Assets Capital LLC now owns 957,666 shares of the company’s stock worth $78,299,000 after buying an additional 68,306 shares during the last quarter. Hedge funds and other institutional investors own 88.26% of the company’s stock.
Shares of Polaris Industries Inc. (NYSE:PII) traded down 1.7486% on Thursday, reaching $74.1798. 674,443 shares of the company traded hands. Polaris Industries Inc. has a 52-week low of $67.80 and a 52-week high of $124.39. The stock has a 50 day moving average of $81.18 and a 200 day moving average of $88.09. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 12.8095 and a beta of 1.46.
Polaris Industries (NYSE:PII) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The firm earned $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Polaris Industries had a net margin of 8.21% and a return on equity of 40.69%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. On average, analysts expect that Polaris Industries Inc. will post $3.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Tuesday, August 30th. Polaris Industries’s dividend payout ratio is currently 38.19%.
A number of analysts recently weighed in on PII shares. TheStreet cut shares of Polaris Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Longbow Research restated an “underperform” rating and set a $70.00 target price on shares of Polaris Industries in a report on Saturday, September 3rd. Citigroup Inc. raised their price objective on shares of Polaris Industries from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Monday, August 29th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Polaris Industries in a research note on Tuesday, September 20th. Finally, Royal Bank Of Canada decreased their price objective on shares of Polaris Industries from $88.00 to $69.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $83.60.
Polaris Industries Company Profile
Polaris Industries Inc (Polaris) designs, engineers and manufactures 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, together with the related parts, garments and accessories.
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