First Merchants Corp increased its position in Polaris Industries Inc. (NYSE:PII) by 51.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,858 shares of the company’s stock after buying an additional 6,778 shares during the period. First Merchants Corp’s holdings in Polaris Industries were worth $1,623,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Virginia Retirement System bought a new stake in shares of Polaris Industries during the first quarter worth about $12,173,000. Alexandria Capital LLC increased its stake in shares of Polaris Industries by 149.6% in the first quarter. Alexandria Capital LLC now owns 48,400 shares of the company’s stock worth $4,767,000 after buying an additional 29,010 shares in the last quarter. Aperio Group LLC increased its stake in shares of Polaris Industries by 57.0% in the first quarter. Aperio Group LLC now owns 25,210 shares of the company’s stock worth $2,483,000 after buying an additional 9,152 shares in the last quarter. Commonwealth Equity Services Inc increased its stake in shares of Polaris Industries by 22.6% in the first quarter. Commonwealth Equity Services Inc now owns 9,828 shares of the company’s stock worth $968,000 after buying an additional 1,811 shares in the last quarter. Finally, Telemus Capital LLC increased its stake in shares of Polaris Industries by 31.4% in the first quarter. Telemus Capital LLC now owns 28,787 shares of the company’s stock worth $2,835,000 after buying an additional 6,871 shares in the last quarter. 88.48% of the stock is currently owned by institutional investors and hedge funds.

Polaris Industries Inc. (NYSE:PII) traded down 0.65% on Tuesday, hitting $71.52. The stock had a trading volume of 1,691,905 shares. Polaris Industries Inc. has a 52-week low of $67.80 and a 52-week high of $126.36. The stock’s 50-day moving average is $87.46 and its 200-day moving average is $89.74. The company has a market cap of $4.58 billion, a P/E ratio of 12.35 and a beta of 1.42.

Polaris Industries (NYSE:PII) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Polaris Industries had a net margin of 8.21% and a return on equity of 40.69%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 earnings per share. Analysts expect that Polaris Industries Inc. will post $3.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.55 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $2.20 annualized dividend and a dividend yield of 3.08%. Polaris Industries’s payout ratio is currently 38.19%.

A number of equities research analysts recently issued reports on the company. B. Riley reissued a “neutral” rating and set a $98.00 price target on shares of Polaris Industries in a research report on Monday, July 25th. Wunderlich reissued a “buy” rating and set a $112.00 price target on shares of Polaris Industries in a research report on Sunday, July 24th. RBC Capital Markets reissued a “hold” rating and set a $88.00 price target on shares of Polaris Industries in a research report on Wednesday, July 27th. Royal Bank Of Canada raised their target price on Polaris Industries from $84.00 to $88.00 and gave the company a “sector perform” rating in a report on Thursday, July 21st. Finally, TheStreet raised Polaris Industries from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.52.

About Polaris Industries

Polaris Industries Inc (Polaris) designs, engineers and manufactures 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, together with the related parts, garments and accessories.

5 Day Chart for NYSE:PII

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