Quantbot Technologies LP Buys New Stake in Polaris Industries Inc. (PII)
Quantbot Technologies LP bought a new position in Polaris Industries Inc. (NYSE:PII) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,638 shares of the company’s stock, valued at approximately $243,000.
A number of other large investors also recently made changes to their positions in PII. M&T Bank Corp increased its stake in Polaris Industries by 1.2% in the second quarter. M&T Bank Corp now owns 10,129 shares of the company’s stock valued at $933,000 after acquiring an additional 116 shares during the last quarter. WESPAC Advisors SoCal LLC purchased a new stake in Polaris Industries during the second quarter valued at about $611,000. California Public Employees Retirement System raised its position in Polaris Industries by 1.7% during the second quarter. California Public Employees Retirement System now owns 128,600 shares of the company’s stock valued at $11,861,000 after purchasing an additional 2,200 shares in the last quarter. FMR LLC raised its position in Polaris Industries by 3.2% during the second quarter. FMR LLC now owns 1,712,891 shares of the company’s stock valued at $157,980,000 after purchasing an additional 53,744 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Polaris Industries by 6.1% during the second quarter. Vanguard Group Inc. now owns 5,627,636 shares of the company’s stock valued at $519,037,000 after purchasing an additional 323,616 shares in the last quarter. Institutional investors own 95.20% of the company’s stock.
Shares of Polaris Industries Inc. (NYSE PII) opened at 106.26 on Wednesday. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 44.44 and a beta of 1.31. The firm’s 50-day moving average is $99.01 and its 200-day moving average is $90.05. Polaris Industries Inc. has a 52 week low of $73.07 and a 52 week high of $108.46.
Polaris Industries (NYSE:PII) last issued its earnings results on Thursday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Polaris Industries had a net margin of 3.13% and a return on equity of 26.47%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. Analysts forecast that Polaris Industries Inc. will post $4.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, August 30th. This represents a $2.32 dividend on an annualized basis and a yield of 2.18%. Polaris Industries’s dividend payout ratio is currently 97.07%.
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In other news, CEO Scott W. Wine purchased 1,293 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average cost of $88.81 per share, for a total transaction of $114,831.33. Following the completion of the transaction, the chief executive officer now owns 317,000 shares of the company’s stock, valued at $28,152,770. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James P. Williams sold 5,250 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $93.24, for a total value of $489,510.00. Following the completion of the transaction, the senior vice president now directly owns 19,914 shares of the company’s stock, valued at $1,856,781.36. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
PII has been the subject of several research analyst reports. Zacks Investment Research raised Polaris Industries from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Friday, September 22nd. UBS AG reduced their price objective on Polaris Industries from $108.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, September 15th. BMO Capital Markets increased their price objective on Polaris Industries from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, September 15th. Royal Bank Of Canada reissued a “sell” rating and set a $80.00 price objective on shares of Polaris Industries in a report on Tuesday. Finally, Stifel Nicolaus reissued a “hold” rating and set a $98.00 price objective (up from $87.00) on shares of Polaris Industries in a report on Monday, September 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $91.31.
About Polaris Industries
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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