Confluence Investment Management LLC Boosts Position in Polaris Inc. (NYSE:PII)

Confluence Investment Management LLC lifted its holdings in shares of Polaris Inc. (NYSE:PII) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,039,359 shares of the company’s stock after acquiring an additional 6,724 shares during the quarter. Confluence Investment Management LLC’s holdings in Polaris were worth $86,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PII. JLB & Associates Inc. lifted its position in shares of Polaris by 0.5% in the 2nd quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock worth $1,917,000 after purchasing an additional 120 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Polaris by 14.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after acquiring an additional 169 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of Polaris by 2.4% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock worth $586,000 after acquiring an additional 172 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in shares of Polaris by 1.2% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock worth $1,262,000 after acquiring an additional 187 shares in the last quarter. Finally, Isthmus Partners LLC lifted its stake in shares of Polaris by 5.0% in the 2nd quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PII. Longbow Research reiterated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Bank of America decreased their price target on shares of 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 dropped their price objective on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets cut their price objective on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. Finally, KeyCorp lowered their target price on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.09.

Polaris Stock Performance

Shares of PII opened at $69.78 on Friday. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 7.40 and a beta of 1.52. The business’s fifty day simple moving average is $79.24 and its two-hundred day simple moving average is $80.61. Polaris Inc. has a 12 month low of $68.59 and a 12 month 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.

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

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, December 2nd. 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.