State of New Jersey Common Pension Fund D Sells 453 Shares of Polaris Inc. (NYSE:PII)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Polaris Inc. (NYSE:PII) by 1.9% in the third quarter, HoldingsChannel.com reports. The fund owned 22,836 shares of the company’s stock after selling 453 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Polaris were worth $1,901,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in shares of Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after buying an additional 169 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Polaris by 22.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock valued at $6,616,000 after purchasing an additional 11,009 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Polaris by 3.3% in the first quarter. Orion Portfolio Solutions LLC now owns 14,183 shares of the company’s stock worth $1,420,000 after acquiring an additional 451 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Polaris by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after acquiring an additional 94,680 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Polaris by 174.1% in the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after acquiring an additional 235 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PII. Citigroup decreased their price target on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. KeyCorp reduced their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Bank of America dropped their price objective on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Roth Mkm dropped their price target on Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, BMO Capital Markets dropped their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $87.09.

Polaris Stock Performance

NYSE PII opened at $66.82 on Monday. The stock has a 50-day moving average of $77.45 and a 200 day moving average of $79.79. Polaris Inc. has a twelve month low of $66.06 and a twelve month high of $100.91. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 6.98 and a beta of 1.52. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris’s revenue for the quarter was down 23.4% on a year-over-year basis. During the same quarter last year, the company earned $2.71 earnings per share. Sell-side analysts anticipate that Polaris Inc. will post 3.22 EPS for the current fiscal year.

Polaris Announces Dividend

The company also recently declared 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 3.95%. Polaris’s dividend payout ratio is currently 73.74%.

About Polaris

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.