Polaris Inc. $PII Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in Polaris Inc. (NYSE:PII) by 29.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,703 shares of the company’s stock after selling 159,256 shares during the quarter. ProShare Advisors LLC’s holdings in Polaris were worth $19,489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PII. Elevation Wealth Partners LLC grew its holdings in Polaris by 471.0% during the second quarter. Elevation Wealth Partners LLC now owns 571 shares of the company’s stock worth $39,000 after acquiring an additional 471 shares during the period. Versant Capital Management Inc raised its position in Polaris by 128.1% in the second quarter. Versant Capital Management Inc now owns 949 shares of the company’s stock worth $65,000 after acquiring an additional 533 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Polaris by 841.1% in the third quarter. Sterling Capital Management LLC now owns 1,807 shares of the company’s stock valued at $94,000 after acquiring an additional 1,615 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Polaris during the first quarter worth about $96,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Polaris during the second quarter worth about $123,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. KeyCorp restated a “sector weight” rating on shares of Polaris in a research report on Wednesday, July 29th. Robert W. Baird reduced their price objective on Polaris from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Citigroup boosted their target price on Polaris from $56.00 to $61.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Roth Capital reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company lowered their target price on Polaris from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Polaris presently has an average rating of “Hold” and a consensus price target of $63.14.

Polaris Trading Up 5.1%

Shares of PII opened at $62.42 on Tuesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.06 and a quick ratio of 0.47. The firm has a 50 day simple moving average of $56.52 and a 200-day simple moving average of $62.56. Polaris Inc. has a 1-year low of $47.14 and a 1-year high of $77.98. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -16.92 and a beta of 1.32.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 27th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.49. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.90 billion. Polaris had a positive return on equity of 23.19% and a negative net margin of 2.70%. Polaris’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.28) EPS. Equities analysts forecast that Polaris Inc. will post 3.53 EPS for the current fiscal year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.72 annualized dividend and a dividend yield of 4.4%. Polaris’s dividend payout ratio is presently -73.71%.

About Polaris

Polaris Inc is a manufacturer of powersports products headquartered in Medina, Minnesota. Founded in 1954, the company began as a snowmobile manufacturer and has expanded into a diversified portfolio of off-road vehicles, motorcycles, snowmobiles and boats.

Its off-road vehicle lineup includes utility and recreational models sold under brands such as RANGER, RZR, Sportsman and GENERAL. Polaris also manufactures snowmobiles under the Polaris brand and motorcycles through Indian Motorcycle and Slingshot.