Empowered Funds LLC Trims Stake in Polaris Inc. (NYSE:PII)

Empowered Funds LLC cut its holdings in shares of Polaris Inc. (NYSE:PII) by 50.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,495 shares of the company’s stock after selling 15,709 shares during the quarter. Empowered Funds LLC’s holdings in Polaris were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Venturi Wealth Management LLC boosted its stake in Polaris by 534.5% during the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after buying an additional 294 shares during the period. Blue Trust Inc. boosted its position in shares of Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the period. Bessemer Group Inc. increased its holdings 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 purchasing an additional 235 shares during the last quarter. Signaturefd LLC raised its position in Polaris by 1,931.3% in the second quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after purchasing an additional 618 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in Polaris during the second quarter worth $57,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Stock Up 2.6 %

Shares of NYSE:PII opened at $66.89 on Friday. Polaris Inc. has a fifty-two week low of $64.56 and a fifty-two week high of $100.91. The firm’s 50-day simple moving average is $76.48 and its 200-day simple moving average is $79.36. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 6.88 and a beta of 1.52. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $2.71 earnings per share. The business’s revenue for the quarter was down 23.4% compared to the same quarter last year. As a group, equities research analysts predict that Polaris Inc. will post 3.22 earnings per share for the current year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.95%. The ex-dividend date is Monday, December 2nd. Polaris’s payout ratio is currently 73.74%.

Analyst Ratings Changes

Several research firms recently issued reports on PII. KeyCorp cut their price objective on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird lowered their price objective on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. DA Davidson cut their price target on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada cut their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.09.

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.