Commerce Bank Trims Holdings in Polaris Inc. (NYSE:PII)

Commerce Bank trimmed its holdings in shares of Polaris Inc. (NYSE:PII) by 64.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,050 shares of the company’s stock after selling 5,589 shares during the quarter. Commerce Bank’s holdings in Polaris were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PII. 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 worth $29,000 after buying an additional 294 shares in the last quarter. Blue Trust Inc. grew its position in Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after buying an additional 389 shares in the last quarter. Bessemer Group Inc. grew its position in Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after buying an additional 235 shares in the last quarter. Signaturefd LLC grew its position in Polaris by 1,931.3% during the second quarter. Signaturefd LLC now owns 650 shares of the company’s stock worth $51,000 after buying an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Polaris during the second quarter worth about $57,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PII shares. Robert W. Baird reduced 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. KeyCorp dropped their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. DA Davidson dropped their price target on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a research note on Thursday. Eight equities 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, Polaris has a consensus rating of “Hold” and a consensus target price of $87.09.

Polaris Trading Up 1.1 %

NYSE PII opened at $68.25 on Thursday. Polaris Inc. has a 1-year low of $64.56 and a 1-year high of $100.91. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The stock has a 50-day moving average of $75.62 and a 200-day moving average of $78.92. The firm has a market cap of $3.81 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 7.44 and a beta of 1.52.

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

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s payout ratio is 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.