Sawtooth Solutions LLC Purchases New Holdings in Polaris Industries Inc. (PII)
Sawtooth Solutions LLC purchased a new stake in Polaris Industries Inc. (NYSE:PII) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,738 shares of the company’s stock, valued at approximately $335,000.
Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Polaris Industries by 2.8% in the 2nd quarter. BlackRock Inc. now owns 5,754,365 shares of the company’s stock valued at $703,068,000 after acquiring an additional 154,787 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Polaris Industries by 6.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,607,622 shares of the company’s stock valued at $642,185,000 after acquiring an additional 350,957 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Polaris Industries by 4.4% in the 2nd quarter. Confluence Investment Management LLC now owns 1,132,105 shares of the company’s stock valued at $138,321,000 after acquiring an additional 47,364 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Polaris Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 826,713 shares of the company’s stock valued at $101,007,000 after acquiring an additional 5,597 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in shares of Polaris Industries during the 1st quarter valued at about $58,903,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
PII has been the topic of several recent research reports. Wells Fargo & Co reduced their price objective on Polaris Industries from $132.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, July 26th. Royal Bank of Canada reiterated a “hold” rating and set a $108.00 price objective on shares of Polaris Industries in a research report on Thursday, July 26th. SunTrust Banks increased their price objective on Polaris Industries to $132.00 and gave the company a “hold” rating in a research report on Monday, June 18th. ValuEngine upgraded Polaris Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Finally, Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “strong-buy” rating and set a $143.00 price objective on the stock in a research report on Thursday, June 21st. Thirteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $116.46.
PII opened at $108.20 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.44 and a current ratio of 1.27. Polaris Industries Inc. has a 1 year low of $91.51 and a 1 year high of $137.66. The company has a market cap of $6.81 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.12 and a beta of 0.97.
Polaris Industries (NYSE:PII) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.14. Polaris Industries had a return on equity of 40.51% and a net margin of 4.58%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $1.16 EPS. Polaris Industries’s revenue for the quarter was up 10.1% compared to the same quarter last year. research 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. Investors of record on Friday, August 31st will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, August 30th. This represents a $2.40 annualized dividend and a yield of 2.22%. Polaris Industries’s payout ratio is 49.48%.
About Polaris Industries
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.
Featured Story: Calculate Your Return on Investment (ROI)
Want to see what other hedge funds are holding PII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Polaris Industries Inc. (NYSE:PII).
Receive News & Ratings for Polaris Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polaris Industries and related companies with MarketBeat.com's FREE daily email newsletter.