Toronto Dominion Bank Reduces Holdings in Polaris Inc. (NYSE:PII)

Toronto Dominion Bank cut its stake in shares of Polaris Inc. (NYSE:PII) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,019 shares of the company’s stock after selling 775 shares during the quarter. Toronto Dominion Bank’s holdings in Polaris were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PII. Norges Bank purchased a new stake in Polaris during the 4th quarter valued at about $12,168,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Polaris by 9.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,791 shares of the company’s stock valued at $1,307,000 after acquiring an additional 1,135 shares during the period. Hsbc Holdings PLC boosted its holdings in Polaris by 88.4% during the 4th quarter. Hsbc Holdings PLC now owns 18,347 shares of the company’s stock valued at $1,736,000 after acquiring an additional 8,610 shares during the period. TD Asset Management Inc boosted its holdings in Polaris by 8.3% during the 4th quarter. TD Asset Management Inc now owns 140,779 shares of the company’s stock valued at $13,342,000 after acquiring an additional 10,770 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Polaris by 4.3% during the 4th quarter. Stifel Financial Corp now owns 77,626 shares of the company’s stock valued at $7,357,000 after acquiring an additional 3,218 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Trading Down 2.0 %

PII opened at $83.22 on Tuesday. The stock has a market cap of $4.70 billion, a PE ratio of 12.20, a PEG ratio of 7.54 and a beta of 1.51. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56. The business has a 50 day moving average of $81.97 and a 200-day moving average of $83.81. Polaris Inc. has a 52 week low of $71.90 and a 52 week high of $104.32.

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 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 the consensus estimate of $2.18 billion. During the same period last year, the business earned $2.42 EPS. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. Equities research 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 was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Tuesday, September 3rd. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

Analyst Ratings Changes

PII has been the subject of several research analyst reports. Bank of America dropped their price objective on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, July 24th. Longbow Research reiterated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Truist Financial dropped 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, DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.18.

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.