Westpac Banking Corp Increases Stake in Polaris Industries Inc. (PII)
Westpac Banking Corp boosted its position in Polaris Industries Inc. (NYSE:PII) by 30.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,322 shares of the company’s stock after buying an additional 784 shares during the period. Westpac Banking Corp’s holdings in Polaris Industries were worth $272,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new position in Polaris Industries during the second quarter worth about $139,000. Advisory Services Network LLC boosted its position in shares of Polaris Industries by 46.5% in the second quarter. Advisory Services Network LLC now owns 2,175 shares of the company’s stock worth $178,000 after buying an additional 690 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Polaris Industries by 27.8% in the first quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $227,000 after buying an additional 500 shares in the last quarter. GWM Advisors LLC bought a new position in shares of Polaris Industries during the second quarter worth approximately $203,000. Finally, Moors & Cabot Inc. boosted its position in shares of Polaris Industries by 2.4% in the second quarter. Moors & Cabot Inc. now owns 2,536 shares of the company’s stock worth $206,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 88.26% of the company’s stock.
Polaris Industries Inc. (NYSE:PII) opened at 74.02 on Friday. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 12.78 and a beta of 1.46. Polaris Industries Inc. has a 12 month low of $67.80 and a 12 month high of $124.39. The firm’s 50 day moving average price is $80.12 and its 200 day moving average price is $87.81.
Polaris Industries (NYSE:PII) last posted its earnings results on Wednesday, July 20th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.04. Polaris Industries had a net margin of 8.21% and a return on equity of 40.69%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that Polaris Industries Inc. will post $3.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, August 30th. Polaris Industries’s payout ratio is currently 38.19%.
A number of brokerages recently commented on PII. BMO Capital Markets reaffirmed a “hold” rating on shares of Polaris Industries in a report on Sunday, July 17th. B. Riley reaffirmed a “neutral” rating and issued a $98.00 target price on shares of Polaris Industries in a report on Monday, July 25th. Royal Bank Of Canada raised their target price on Polaris Industries from $84.00 to $88.00 and gave the stock a “sector perform” rating in a report on Thursday, July 21st. Lake Street Capital raised their target price on Polaris Industries from $85.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. Finally, Longbow Research reaffirmed an “underperform” rating and issued a $70.00 target price on shares of Polaris Industries in a report on Saturday, September 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $83.60.
Polaris Industries Company Profile
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polaris Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.