West Coast Financial LLC increased its position in Polaris Industries Inc. (NYSE:PII) by 5.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,584 shares of the company’s stock after buying an additional 3,127 shares during the period. Polaris Industries makes up 1.8% of West Coast Financial LLC’s investment portfolio, making the stock its 16th largest position. West Coast Financial LLC owned about 0.10% of Polaris Industries worth $5,772,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC bought a new position in Polaris Industries during the first quarter worth approximately $11,529,000. Sheets Smith Wealth Management bought a new position in Polaris Industries during the first quarter worth approximately $204,000. Raymond James Trust N.A. increased its position in Polaris Industries by 25.7% in the first quarter. Raymond James Trust N.A. now owns 7,080 shares of the company’s stock valued at $593,000 after buying an additional 1,447 shares in the last quarter. Confluence Investment Management LLC increased its position in Polaris Industries by 444.9% in the first quarter. Confluence Investment Management LLC now owns 730,568 shares of the company’s stock valued at $61,222,000 after buying an additional 596,497 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in Polaris Industries by 0.7% in the first quarter. CENTRAL TRUST Co now owns 3,793 shares of the company’s stock valued at $318,000 after buying an additional 25 shares in the last quarter. 93.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Polaris Industries Inc. (NYSE PII) traded up 1.44% during mid-day trading on Friday, hitting $89.35. 434,036 shares of the stock traded hands. Polaris Industries Inc. has a 52 week low of $70.14 and a 52 week high of $99.16. The firm’s 50-day moving average is $90.63 and its 200-day moving average is $86.92. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 37.37 and a beta of 1.31.
Polaris Industries (NYSE:PII) last posted its earnings results on Thursday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. On average, analysts forecast that Polaris Industries Inc. will post $4.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, August 30th. This represents a $2.32 annualized dividend and a dividend yield of 2.60%. Polaris Industries’s dividend payout ratio (DPR) is presently 97.07%.
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Several research analysts have recently issued reports on the company. Royal Bank Of Canada downgraded Polaris Industries from a “sector perform” rating to an “underperform” rating and set a $80.00 price objective for the company. in a research note on Friday, July 21st. Robert W. Baird downgraded Polaris Industries from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $88.00 to $96.00 in a research note on Friday, July 21st. Lake Street Capital upped their price objective on Polaris Industries from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, July 21st. B. Riley reaffirmed a “neutral” rating and issued a $91.00 price objective on shares of Polaris Industries in a research note on Friday, July 21st. Finally, TheStreet raised Polaris Industries from a “c” rating to a “b-” rating in a research note on Thursday, July 20th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $86.87.
In other news, insider Matthew J. Homan sold 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $86.96, for a total transaction of $226,096.00. Following the transaction, the insider now directly owns 20,871 shares of the company’s stock, valued at $1,814,942.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by insiders.
About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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