Ontario Teachers Pension Plan Board Reduces Position in Polaris Inc. (NYSE:PII)

Ontario Teachers Pension Plan Board trimmed its position in Polaris Inc. (NYSE:PII) by 66.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,173 shares of the company’s stock after selling 24,260 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Polaris were worth $1,013,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its position in Polaris by 534.5% during the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after acquiring an additional 294 shares during the last quarter. Blue Trust Inc. lifted its position in Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the period. Bessemer Group Inc. lifted its position in Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after buying an additional 235 shares during the period. Signaturefd LLC lifted its position in Polaris by 1,931.3% during the second quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after buying an additional 618 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Polaris in the 2nd quarter worth about $57,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Roth Mkm reduced their price objective on Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. KeyCorp lowered their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird lowered their target price on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $87.09.

Polaris Stock Performance

Polaris stock opened at $65.20 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The stock has a fifty day moving average of $76.71 and a two-hundred day moving average of $79.44. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 6.88 and a beta of 1.52. Polaris Inc. has a fifty-two week low of $64.56 and a fifty-two week high of $100.91.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The company’s revenue for the quarter was down 23.4% compared to the same quarter last year. On average, analysts anticipate that Polaris Inc. will post 3.22 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 annualized dividend and a dividend yield of 4.05%. Polaris’s dividend payout ratio is presently 73.74%.

Polaris Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.