NBC Securities Inc. Decreases Stake in Polaris Inc. (NYSE:PII)

NBC Securities Inc. lessened its holdings in shares of Polaris Inc. (NYSE:PII) by 27.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,760 shares of the company’s stock after selling 1,415 shares during the quarter. NBC Securities Inc.’s holdings in Polaris were worth $312,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PII. Vanguard Group Inc. boosted its position in Polaris by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after acquiring an additional 94,680 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Polaris by 22.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock worth $6,616,000 after purchasing an additional 11,009 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Polaris during the 1st quarter worth approximately $1,065,000. Allspring Global Investments Holdings LLC grew its position in shares of Polaris by 14.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after purchasing an additional 169 shares in the last quarter. Finally, Alaska Permanent Fund Corp increased its holdings in shares of Polaris by 209.4% in the first quarter. Alaska Permanent Fund Corp now owns 14,525 shares of the company’s stock valued at $1,454,000 after purchasing an additional 9,830 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Price Performance

PII stock opened at $82.50 on Friday. The business’s fifty day moving average price is $82.40 and its 200 day moving average price is $82.62. Polaris Inc. has a 12-month low of $71.90 and a 12-month high of $100.91. 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 $4.60 billion, a PE ratio of 14.45, a P/E/G ratio of 7.22 and a beta of 1.51.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company earned $2.42 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Polaris Inc. will post 3.79 EPS for the current year.

Polaris Dividend Announcement

The firm 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 annualized dividend and a yield of 3.20%. Polaris’s dividend payout ratio is presently 46.23%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PII. KeyCorp cut their target price on Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada reduced their target price on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Bank of America reduced their price target on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Longbow Research reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.