Ballentine Partners LLC Sells 966 Shares of Polaris Inc. (NYSE:PII)

Ballentine Partners LLC lessened its holdings in Polaris Inc. (NYSE:PII) by 24.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,996 shares of the company’s stock after selling 966 shares during the period. Ballentine Partners LLC’s holdings in Polaris were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. New England Capital Financial Advisors LLC purchased a new stake in shares of Polaris during the first quarter valued at $25,000. Creekmur Asset Management LLC purchased a new stake in Polaris in the 4th quarter valued at about $27,000. Bessemer Group Inc. boosted its position in Polaris by 174.1% in the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after buying an additional 235 shares during the period. Security National Bank bought a new position in Polaris in the 4th quarter worth about $47,000. Finally, Signaturefd LLC increased its position in shares of Polaris by 1,931.3% during the second quarter. Signaturefd LLC now owns 650 shares of the company’s stock worth $51,000 after acquiring an additional 618 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PII shares. DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Thursday, July 25th. Longbow Research reiterated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. BMO Capital Markets cut their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Truist Financial decreased their price objective on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. Finally, Bank of America dropped their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.18.

Polaris Price Performance

Shares of PII opened at $78.00 on Thursday. The company has a 50 day moving average of $80.96 and a two-hundred day moving average of $84.66. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56. Polaris Inc. has a twelve month low of $71.90 and a twelve month high of $108.02. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 7.04 and a beta of 1.51.

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

Polaris Dividend Announcement

The business also recently disclosed 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 of this dividend is Tuesday, September 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.38%. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

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.