Massachusetts Financial Services Co. MA Trims Stake in Polaris Inc. (NYSE:PII)

Massachusetts Financial Services Co. MA lessened its position in Polaris Inc. (NYSE:PII) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,309 shares of the company’s stock after selling 6,166 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Polaris were worth $3,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PII. Vanguard Group Inc. boosted its holdings 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 valued at $590,924,000 after buying an additional 94,680 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Polaris by 8.3% during the fourth quarter. TD Asset Management Inc now owns 140,779 shares of the company’s stock valued at $13,342,000 after purchasing an additional 10,770 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Polaris by 22.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock valued at $6,616,000 after purchasing an additional 11,009 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Polaris in the 1st quarter worth approximately $1,065,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after buying an additional 169 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PII has been the subject of several analyst reports. Robert W. Baird reduced their price target on Polaris from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. KeyCorp decreased their target price on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. DA Davidson upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Thursday, July 25th. Roth Mkm decreased their price objective on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price target on Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and four have issued 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 $89.18.

Polaris Stock Down 1.8 %

PII opened at $84.33 on Friday. Polaris Inc. has a 1-year low of $71.90 and a 1-year high of $106.17. The firm’s 50 day simple moving average is $81.92 and its two-hundred day simple moving average is $84.20. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $4.77 billion, a PE ratio of 12.37, a PEG ratio of 7.42 and a beta of 1.51.

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

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.66 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.13%. Polaris’s payout ratio is currently 38.71%.

Polaris 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.