Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Polaris Industries Inc. (NYSE:PII) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,464 shares of the company’s stock after selling 3,500 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of Polaris Industries worth $17,836,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Polaris Industries by 6.1% in the second quarter. Vanguard Group Inc. now owns 5,627,636 shares of the company’s stock valued at $519,037,000 after buying an additional 323,616 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Polaris Industries by 12.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,256,665 shares of the company’s stock valued at $484,822,000 after acquiring an additional 572,461 shares in the last quarter. State Street Corp increased its holdings in shares of Polaris Industries by 3.8% during the second quarter. State Street Corp now owns 4,377,894 shares of the company’s stock valued at $403,763,000 after acquiring an additional 161,055 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Polaris Industries by 0.4% during the second quarter. Wells Fargo & Company MN now owns 3,504,980 shares of the company’s stock valued at $323,265,000 after acquiring an additional 12,865 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Polaris Industries by 27,968.2% during the second quarter. Janus Henderson Group PLC now owns 2,411,062 shares of the company’s stock worth $222,372,000 after buying an additional 2,402,472 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.
In related news, insider Stephen L. Eastman sold 8,500 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 18,846 shares in the company, valued at $2,247,385.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael D. Dougherty sold 8,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $122.23, for a total value of $977,840.00. Following the completion of the sale, the insider now owns 13,113 shares in the company, valued at $1,602,801.99. The disclosure for this sale can be found here. Insiders have sold 58,102 shares of company stock valued at $7,174,301 in the last three months. 2.20% of the stock is currently owned by corporate insiders.
Polaris Industries (NYSE:PII) last posted its earnings results on Tuesday, October 24th. The company reported $1.46 EPS for the quarter, topping 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%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. sell-side analysts predict that Polaris Industries Inc. will post 4.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, November 30th. Polaris Industries’s payout ratio is currently 73.19%.
PII has been the subject of a number of recent analyst reports. Zacks Investment Research raised Polaris Industries from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Friday, September 29th. Aegis reissued a “buy” rating and set a $107.00 price objective on shares of Polaris Industries in a report on Thursday, August 17th. BidaskClub raised Polaris Industries from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 price target (up previously from $87.00) on shares of Polaris Industries in a report on Monday, September 18th. Finally, Northcoast Research reiterated a “hold” rating on shares of Polaris Industries in a research report on Tuesday, September 5th. 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $99.27.
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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