Versor Investments LP Cuts Stock Position in Polaris Inc. (NYSE:PII)

Versor Investments LP trimmed its position in shares of Polaris Inc. (NYSE:PII) by 75.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,909 shares of the company’s stock after selling 8,791 shares during the period. Versor Investments LP’s holdings in Polaris were worth $242,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in shares of 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 acquiring an additional 294 shares in the last quarter. Confluence Investment Management LLC raised its position in Polaris by 0.7% in the 3rd quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after purchasing an additional 6,724 shares during the period. Keynote Financial Services LLC lifted its stake in Polaris by 14.3% in the third quarter. Keynote Financial Services LLC now owns 6,094 shares of the company’s stock worth $507,000 after purchasing an additional 761 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in Polaris during the third quarter valued at about $274,000. Finally, Van ECK Associates Corp grew its stake in shares of Polaris by 35.2% during the third quarter. Van ECK Associates Corp now owns 40,966 shares of the company’s stock valued at $3,410,000 after buying an additional 10,664 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

PII has been the subject of a number of recent research reports. Bank of America lowered their target price on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. DA Davidson cut their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased their target price on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their price target on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. Finally, Roth Mkm decreased their price objective on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.09.

Polaris Stock Performance

Shares of PII opened at $66.82 on Friday. The company has a 50-day simple moving average of $77.45 and a two-hundred day simple moving average of $79.82. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The firm has a market capitalization of $3.73 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 7.05 and a beta of 1.52. Polaris Inc. has a one year low of $66.06 and a one year high of $100.91.

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

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.66 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.95%. Polaris’s dividend payout ratio (DPR) is currently 73.74%.

Polaris Company 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.