Arizona State Retirement System Reduces Stake in Polaris Industries Inc. (PII)
Arizona State Retirement System cut its stake in Polaris Industries Inc. (NYSE:PII) by 0.8% during the third quarter, Holdings Channel reports. The institutional investor owned 25,034 shares of the company’s stock after selling 200 shares during the period. Arizona State Retirement System’s holdings in Polaris Industries were worth $1,939,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. WFG Advisors LP raised its stake in shares of Polaris Industries by 7.8% in the second quarter. WFG Advisors LP now owns 1,276 shares of the company’s stock worth $104,000 after buying an additional 92 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Polaris Industries by 114.3% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 1,500 shares of the company’s stock worth $123,000 after buying an additional 800 shares during the period. Pinkerton Retirement Specialists LLC bought a new stake in shares of Polaris Industries during the second quarter worth $136,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Polaris Industries during the second quarter worth $139,000. Finally, Tredje AP fonden raised its stake in shares of Polaris Industries by 436.1% in the second quarter. Tredje AP fonden now owns 1,930 shares of the company’s stock worth $158,000 after buying an additional 1,570 shares during the period. 93.72% of the stock is currently owned by institutional investors and hedge funds.
Polaris Industries Inc. (NYSE:PII) traded down 0.18% on Tuesday, hitting $86.68. 694,912 shares of the company traded hands. The stock has a market cap of $5.55 billion, a PE ratio of 21.83 and a beta of 1.23. Polaris Industries Inc. has a 12 month low of $67.80 and a 12 month high of $106.35. The stock’s 50-day moving average is $80.76 and its 200 day moving average is $83.94.
Polaris Industries (NYSE:PII) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Polaris Industries had a net margin of 5.93% and a return on equity of 27.74%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $317.71 million. During the same period last year, the firm posted $2.30 EPS. Polaris Industries’s revenue for the quarter was down 18.6% on a year-over-year basis. Equities research analysts expect that Polaris Industries Inc. will post $3.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, November 29th. Polaris Industries’s payout ratio is currently 55.56%.
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A number of brokerages have recently weighed in on PII. B. Riley reissued a “neutral” rating and set a $78.00 price objective on shares of Polaris Industries in a report on Monday, October 24th. Lake Street Capital boosted their price objective on shares of Polaris Industries from $85.00 to $106.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Longbow Research reissued an “underperform” rating and set a $70.00 price objective on shares of Polaris Industries in a report on Saturday, September 3rd. Robert W. Baird reissued an “outperform” rating and set a $84.00 price objective (down from $105.00) on shares of Polaris Industries in a report on Tuesday, September 13th. Finally, Wunderlich boosted their price objective on shares of Polaris Industries from $98.00 to $112.00 and gave the company a “buy” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $83.78.
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.
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