Nordea Investment Management AB cut its stake in Polaris Inc. (NYSE:PII – Get Rating) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,996 shares of the company’s stock after selling 1,726 shares during the period. Nordea Investment Management AB owned about 0.09% of Polaris worth $5,383,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Standard Family Office LLC bought a new position in Polaris during the 3rd quarter worth about $26,000. Larson Financial Group LLC purchased a new position in Polaris during the 4th quarter worth approximately $28,000. Spire Wealth Management raised its position in Polaris by 137.6% during the 3rd quarter. Spire Wealth Management now owns 430 shares of the company’s stock worth $41,000 after buying an additional 249 shares during the last quarter. Red Tortoise LLC purchased a new position in Polaris during the 4th quarter worth approximately $43,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Polaris during the 1st quarter valued at approximately $47,000. 86.57% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PII. Royal Bank of Canada lifted their target price on shares of Polaris from $108.00 to $115.00 and gave the company a “sector perform” rating in a report on Tuesday, March 21st. Northcoast Research cut shares of Polaris from a “buy” rating to a “neutral” rating in a research note on Friday, January 13th. Robert W. Baird lifted their price target on shares of Polaris from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. StockNews.com assumed coverage on shares of Polaris in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, Citigroup lifted their price target on shares of Polaris from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Ten analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $114.27.
Polaris Trading Down 1.3 %
Polaris (NYSE:PII – Get Rating) last posted its earnings results on Tuesday, April 25th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.32. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.96 billion. Polaris had a return on equity of 60.97% and a net margin of 5.46%. Polaris’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. As a group, sell-side analysts anticipate that Polaris Inc. will post 10.19 earnings per share for the current fiscal year.
Polaris Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.65 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.53%. Polaris’s dividend payout ratio (DPR) is 31.29%.
About Polaris
Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments: Off-Road, On-Road, and Marine. The Off-Road segment includes off-road vehicles (ORV) and snowmobiles. The On Road segment is involved in the design and manufacture of motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.
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