Polaris Inc. (NYSE:PII) Shares Sold by Dividend Assets Capital LLC
Dividend Assets Capital LLC reduced its position in Polaris Inc. (NYSE:PII) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,651 shares of the company’s stock after selling 335 shares during the period. Dividend Assets Capital LLC’s holdings in Polaris were worth $1,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in Polaris by 115.7% in the 1st quarter. First Trust Advisors LP now owns 18,030 shares of the company’s stock worth $1,522,000 after acquiring an additional 9,673 shares in the last quarter. Brinker Capital Investments LLC purchased a new stake in Polaris in the 3rd quarter worth $1,464,000. Louisiana State Employees Retirement System increased its holdings in Polaris by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company’s stock worth $1,382,000 after acquiring an additional 100 shares in the last quarter. Huntington National Bank purchased a new stake in shares of Polaris during the fourth quarter worth $26,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Polaris during the fourth quarter worth $207,000. Hedge funds and other institutional investors own 73.65% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Truist Securities upped their target price on shares of Polaris from $125.00 to $150.00 in a report on Wednesday, April 28th. KeyCorp upped their price objective on shares of Polaris from $138.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday. Raymond James upped their price objective on shares of Polaris from $162.00 to $169.00 and gave the company a “strong-buy” rating in a report on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of Polaris from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Monday, April 26th. Finally, Morgan Stanley upped their target price on shares of Polaris from $158.00 to $165.00 and gave the company an “overweight” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $145.13.
Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, April 27th. The company reported $2.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.74. Polaris had a return on equity of 40.78% and a net margin of 0.38%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. Equities research analysts predict that Polaris Inc. will post 7.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Monday, May 31st. Polaris’s dividend payout ratio (DPR) is currently 39.87%.
In other Polaris news, insider Michael D. Dougherty sold 16,109 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $140.00, for a total value of $2,255,260.00. Following the completion of the sale, the insider now owns 35,557 shares of the company’s stock, valued at $4,977,980. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert Paul Mack sold 8,048 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $140.00, for a total value of $1,126,720.00. Following the completion of the sale, the chief financial officer now directly owns 29,510 shares of the company’s stock, valued at approximately $4,131,400. The disclosure for this sale can be found here. In the last three months, insiders sold 167,023 shares of company stock valued at $22,175,616. 3.20% of the stock is owned by corporate insiders.
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
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