Cubist Systematic Strategies LLC lifted its stake in Polaris Industries Inc. (NYSE:PII) by 1,083.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,643 shares of the company’s stock after purchasing an additional 36,294 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.06% of Polaris Industries worth $4,148,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Polaris Industries by 625.3% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 73,159 shares of the company’s stock worth $5,981,000 after purchasing an additional 63,072 shares during the period. State Street Corp lifted its stake in shares of Polaris Industries by 3.8% during the 2nd quarter. State Street Corp now owns 4,377,894 shares of the company’s stock worth $403,763,000 after acquiring an additional 161,055 shares during the last quarter. Prudential PLC lifted its stake in shares of Polaris Industries by 14.8% during the 2nd quarter. Prudential PLC now owns 47,300 shares of the company’s stock worth $4,363,000 after acquiring an additional 6,100 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Polaris Industries by 15.4% during the 2nd quarter. Victory Capital Management Inc. now owns 53,721 shares of the company’s stock worth $4,955,000 after acquiring an additional 7,171 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Polaris Industries by 1.2% during the 2nd quarter. Swiss National Bank now owns 218,200 shares of the company’s stock worth $20,125,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Polaris Industries from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Friday, September 29th. Royal Bank Of Canada reissued a “sell” rating and set a $80.00 price target on shares of Polaris Industries in a research note on Tuesday, October 3rd. BidaskClub raised Polaris Industries from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. B. Riley set a $91.00 price target on Polaris Industries and gave the stock a “hold” rating in a research note on Monday, October 23rd. Finally, BMO Capital Markets lowered Polaris Industries from an “outperform” rating to a “market perform” rating and set a $115.00 price target for the company. in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $99.27.
Polaris Industries (NYSE:PII) last issued its earnings results on Tuesday, October 24th. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.24. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.40 billion. Polaris Industries had a return on equity of 33.81% and a net margin of 3.90%. Polaris Industries’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. equities research analysts anticipate that Polaris Industries Inc. will post 4.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, November 30th. Polaris Industries’s dividend payout ratio (DPR) is presently 72.96%.
In other news, SVP Stacy L. Bogart sold 20,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $122.05, for a total value of $2,441,000.00. Following the completion of the transaction, the senior vice president now directly owns 30,975 shares of the company’s stock, valued at approximately $3,780,498.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen L. Eastman sold 8,500 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $119.25, for a total value of $1,013,625.00. Following the completion of the transaction, the insider now directly owns 18,846 shares of the company’s stock, valued at $2,247,385.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,102 shares of company stock valued at $7,174,301. 2.20% of the stock is currently owned by corporate insiders.
Polaris Industries Profile
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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