Polaris Industries Inc. (PII) Holdings Reduced by SevenBridge Financial Group LLC
SevenBridge Financial Group LLC reduced its stake in Polaris Industries Inc. (NYSE:PII) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,891 shares of the company’s stock after selling 574 shares during the period. SevenBridge Financial Group LLC’s holdings in Polaris Industries were worth $512,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in PII. Janus Henderson Group PLC grew its position in shares of Polaris Industries by 27,968.2% during the second quarter. Janus Henderson Group PLC now owns 2,411,062 shares of the company’s stock worth $222,372,000 after acquiring an additional 2,402,472 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Polaris Industries by 12.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,256,665 shares of the company’s stock worth $484,822,000 after acquiring an additional 572,461 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Polaris Industries by 6.1% during the second quarter. Vanguard Group Inc. now owns 5,627,636 shares of the company’s stock worth $519,037,000 after acquiring an additional 323,616 shares during the last quarter. State Street Corp grew its position in shares of Polaris Industries by 3.8% during the second quarter. State Street Corp now owns 4,377,894 shares of the company’s stock worth $403,763,000 after acquiring an additional 161,055 shares during the last quarter. Finally, Columbus Circle Investors purchased a new position in shares of Polaris Industries during the third quarter worth approximately $13,969,000. Institutional investors own 91.08% of the company’s stock.
In related news, insider Stephen L. Eastman sold 8,500 shares of Polaris Industries stock in a transaction on Monday, October 30th. The shares were sold at an average price of $119.25, for a total value of $1,013,625.00. Following the transaction, the insider now directly owns 18,846 shares in the company, valued at approximately $2,247,385.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stacy L. Bogart sold 20,000 shares of Polaris Industries stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $122.05, for a total transaction of $2,441,000.00. Following the completion of the transaction, the senior vice president now owns 30,975 shares in the company, valued at $3,780,498.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,602 shares of company stock worth $4,441,121. 2.20% of the stock is currently owned by insiders.
Polaris Industries (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.24. Polaris Industries had a net margin of 3.90% and a return on equity of 33.81%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.50 EPS. Polaris Industries’s quarterly revenue was up 24.8% on a year-over-year basis. equities research analysts anticipate that Polaris Industries Inc. will post 4.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.58 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.32 dividend on an annualized basis and a yield of 1.84%. Polaris Industries’s dividend payout ratio (DPR) is 73.19%.
PII has been the topic of a number of research reports. Northcoast Research restated a “hold” rating on shares of Polaris Industries in a research report on Tuesday, September 5th. Robert W. Baird restated a “neutral” rating on shares of Polaris Industries in a research report on Sunday, September 3rd. Royal Bank Of Canada raised their target price on shares of Polaris Industries from $81.00 to $91.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 25th. UBS lowered their target price on shares of Polaris Industries from $108.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, September 15th. Finally, BMO Capital Markets raised their target price on shares of Polaris Industries from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. Polaris Industries currently has a consensus rating of “Hold” and a consensus target price of $99.27.
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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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