Polaris Inc. $PII Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its stake in shares of Polaris Inc. (NYSE:PII) by 29.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373,703 shares of the company’s stock after selling 159,256 shares during the quarter. ProShare Advisors LLC owned approximately 0.66% of Polaris worth $19,489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PII. Alyeska Investment Group L.P. acquired a new position in shares of Polaris during the 2nd quarter worth about $7,576,000. Allianz Asset Management GmbH increased its holdings in shares of Polaris by 272.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 386,300 shares of the company’s stock valued at $26,438,000 after acquiring an additional 282,651 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Polaris during the 2nd quarter worth about $5,222,000. Bank of America Corp DE acquired a new stake in shares of Polaris during the 2nd quarter worth about $17,374,000. Finally, Renaissance Technologies LLC raised its position in shares of Polaris by 87.1% during the 1st quarter. Renaissance Technologies LLC now owns 225,800 shares of the company’s stock worth $12,306,000 after acquiring an additional 105,100 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

PII has been the subject of several recent analyst reports. Bank of America restated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 29th. Royal Bank Of Canada dropped their target price on shares of Polaris from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 28th. Roth Capital reiterated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 29th. Zacks Research cut shares of Polaris from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Polaris in a research note on Tuesday, October 27th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.14.

Polaris Stock Performance

NYSE PII opened at $62.42 on Tuesday. The firm has a market cap of $3.55 billion, a P/E ratio of -16.92 and a beta of 1.32. Polaris Inc. has a 52-week low of $47.14 and a 52-week high of $77.98. The business’s 50-day moving average price is $56.52 and its 200 day moving average price is $62.56. The company has a quick ratio of 0.47, a current ratio of 1.06 and a debt-to-equity ratio of 1.88.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 27th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.59 by $0.49. Polaris had a positive return on equity of 23.19% and a negative net margin of 2.70%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the business earned ($0.28) earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Polaris Inc. will post 3.53 earnings per share for the current year.

Polaris Announces Dividend

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

Polaris Company Profile

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.