State of Wisconsin Investment Board Reduces Holdings in Polaris Industries Inc. (PII)
State of Wisconsin Investment Board lowered its stake in Polaris Industries Inc. (NYSE:PII) by 16.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 234,340 shares of the company’s stock after selling 47,011 shares during the period. State of Wisconsin Investment Board’s holdings in Polaris Industries were worth $28,632,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Squar Milner Financial Services LLC bought a new position in shares of Polaris Industries in the second quarter valued at $108,000. Well Done LLC bought a new position in shares of Polaris Industries in the first quarter valued at $128,000. Ostrum Asset Management bought a new position in shares of Polaris Industries in the first quarter valued at $135,000. NuWave Investment Management LLC increased its holdings in shares of Polaris Industries by 57.9% in the first quarter. NuWave Investment Management LLC now owns 1,566 shares of the company’s stock valued at $179,000 after buying an additional 574 shares in the last quarter. Finally, Hartford Investment Management Co. bought a new position in shares of Polaris Industries in the second quarter valued at $216,000. 87.17% of the stock is currently owned by institutional investors.
In other news, CEO Scott W. Wine sold 245,000 shares of the company’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $118.36, for a total value of $28,998,200.00. Following the transaction, the chief executive officer now directly owns 357,154 shares of the company’s stock, valued at $42,272,747.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George W. Bilicic purchased 1,195 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was bought at an average cost of $104.61 per share, for a total transaction of $125,008.95. Following the completion of the purchase, the director now directly owns 6,239 shares of the company’s stock, valued at approximately $652,661.79. The disclosure for this purchase can be found here. Insiders sold 300,012 shares of company stock worth $35,932,249 over the last ninety days. 2.40% of the stock is currently owned by company insiders.
Polaris Industries (NYSE:PII) last announced its earnings results on Wednesday, July 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.14. Polaris Industries had a net margin of 4.58% and a return on equity of 40.51%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the business earned $1.16 EPS. The company’s revenue was up 10.1% on a year-over-year basis. sell-side analysts forecast that Polaris Industries Inc. will post 6.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, August 30th. Polaris Industries’s dividend payout ratio (DPR) is presently 49.48%.
Several research analysts have issued reports on PII shares. TheStreet raised Polaris Industries from a “c+” rating to a “b” rating in a report on Tuesday, April 24th. ValuEngine cut Polaris Industries from a “buy” rating to a “hold” rating in a report on Friday, May 11th. Zacks Investment Research raised Polaris Industries from a “hold” rating to a “strong-buy” rating and set a $143.00 price target on the stock in a report on Thursday, June 21st. Stifel Nicolaus cut their target price on shares of Polaris Industries from $123.00 to $114.00 and set a “hold” rating on the stock in a research note on Thursday, July 26th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $108.00 target price on shares of Polaris Industries in a research note on Thursday, July 26th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Polaris Industries has an average rating of “Hold” and an average target price of $116.00.
Polaris Industries 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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