Crossmark Global Holdings Inc. Cuts Stake in Polaris Inc. (NYSE:PII)

Crossmark Global Holdings Inc. reduced its holdings in shares of Polaris Inc. (NYSE:PII) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,234 shares of the company’s stock after selling 271 shares during the period. Crossmark Global Holdings Inc.’s holdings in Polaris were worth $254,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PII. International Assets Investment Management LLC increased its position in shares of Polaris by 10,524.7% in the 4th quarter. International Assets Investment Management LLC now owns 61,411 shares of the company’s stock valued at $5,820,000 after purchasing an additional 60,833 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Polaris by 19.0% in the 4th quarter. Victory Capital Management Inc. now owns 11,686 shares of the company’s stock valued at $1,107,000 after purchasing an additional 1,865 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of Polaris by 2.8% in the 4th quarter. New York Life Investment Management LLC now owns 6,088 shares of the company’s stock valued at $577,000 after purchasing an additional 167 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Polaris by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,306 shares of the company’s stock valued at $33,957,000 after purchasing an additional 10,745 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. increased its position in shares of Polaris by 3.5% in the 4th quarter. Savoir Faire Capital Management L.P. now owns 10,587 shares of the company’s stock valued at $1,003,000 after purchasing an additional 354 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PII. Royal Bank of Canada dropped their price objective on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 24th. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Bank of America lowered their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. KeyCorp lowered 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. Finally, BMO Capital Markets lowered their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Polaris presently has an average rating of “Hold” and an average target price of $89.18.

Polaris Stock Up 0.0 %

Shares of NYSE:PII opened at $82.48 on Thursday. The stock has a market cap of $4.60 billion, a P/E ratio of 12.09, a P/E/G ratio of 7.52 and a beta of 1.51. The firm has a fifty day moving average price of $80.71 and a 200 day moving average price of $85.12. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. Polaris Inc. has a 1-year low of $71.90 and a 1-year high of $113.28.

Polaris (NYSE:PII) last issued its quarterly earnings results 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). The business 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 revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 EPS. Sell-side analysts predict that Polaris Inc. will post 3.79 EPS for the current year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given 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 yield of 3.20%. 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.