TD Asset Management Inc Lowers Stake in Polaris Inc. (NYSE:PII)

TD Asset Management Inc reduced its position in shares of Polaris Inc. (NYSE:PII) by 1.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 158,431 shares of the company’s stock after selling 2,251 shares during the period. TD Asset Management Inc’s holdings in Polaris were worth $12,407,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Capital World Investors boosted its stake in shares of Polaris by 2.4% during the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after acquiring an additional 160,918 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Polaris by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after acquiring an additional 94,680 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Polaris during the 1st quarter worth about $108,890,000. Dimensional Fund Advisors LP boosted its stake in shares of Polaris by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock worth $80,663,000 after acquiring an additional 82,779 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Polaris by 1.6% during the 4th quarter. Brown Advisory Inc. now owns 372,071 shares of the company’s stock worth $35,261,000 after acquiring an additional 5,830 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PII. BMO Capital Markets decreased their price target on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note 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 on the stock in a research note on Wednesday, July 24th. Roth Mkm decreased their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Citigroup decreased their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Robert W. Baird decreased their price target on shares of Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.18.

Polaris Stock Down 0.6 %

PII stock opened at $78.86 on Tuesday. The firm has a 50-day moving average of $80.87 and a two-hundred day moving average of $84.80. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 7.04 and a beta of 1.51. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. Polaris Inc. has a 12 month low of $71.90 and a 12 month high of $109.35.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 EPS. As a group, analysts forecast that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.66 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.35%. Polaris’s dividend payout ratio is currently 38.71%.

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.