Confluence Investment Management LLC Decreases Stock Position in Polaris Inc. (NYSE:PII)

Confluence Investment Management LLC trimmed its holdings in Polaris Inc. (NYSE:PII) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,018,304 shares of the company’s stock after selling 21,055 shares during the quarter. Confluence Investment Management LLC owned approximately 1.83% of Polaris worth $58,675,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PII. Venturi Wealth Management LLC grew its stake in Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the period. Quarry LP raised its holdings in shares of Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares in the last quarter. Signaturefd LLC raised its holdings in shares of 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 acquiring an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in Polaris during the 2nd quarter worth about $57,000. 88.06% of the stock is currently owned by institutional investors.

Polaris Stock Down 0.6 %

PII stock traded down $0.34 during mid-day trading on Thursday, reaching $57.28. The company had a trading volume of 158,258 shares, compared to its average volume of 753,131. Polaris Inc. has a fifty-two week low of $55.55 and a fifty-two week high of $100.91. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 6.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The firm has a fifty day simple moving average of $65.48 and a 200 day simple moving average of $75.37.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The company’s revenue was down 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 EPS. Analysts forecast that Polaris Inc. will post 3.22 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, December 2nd. Polaris’s dividend payout ratio is presently 73.74%.

Analysts Set New Price Targets

Several brokerages have issued reports on PII. KeyCorp dropped their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a research report on Monday. Robert W. Baird reduced their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a report on Monday. DA Davidson decreased their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lowered their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.00.

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.