California Public Employees Retirement System Cuts Holdings in Polaris Inc. (NYSE:PII)

California Public Employees Retirement System decreased its position in shares of Polaris Inc. (NYSE:PII – Get Rating) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,068 shares of the company’s stock after selling 4,218 shares during the period. California Public Employees Retirement System owned approximately 0.21% of Polaris worth $12,856,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in Polaris by 9.9% in the fourth quarter. State Street Corp now owns 3,603,635 shares of the company’s stock worth $396,076,000 after acquiring an additional 325,070 shares in the last quarter. Boston Partners grew its position in Polaris by 4.3% in the fourth quarter. Boston Partners now owns 3,396,458 shares of the company’s stock worth $373,427,000 after acquiring an additional 140,651 shares in the last quarter. Capital World Investors grew its position in Polaris by 147.6% in the fourth quarter. Capital World Investors now owns 2,776,472 shares of the company’s stock worth $305,162,000 after acquiring an additional 1,655,218 shares in the last quarter. American Century Companies Inc. grew its position in Polaris by 16.3% in the fourth quarter. American Century Companies Inc. now owns 1,081,311 shares of the company’s stock worth $118,847,000 after acquiring an additional 151,348 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its position in shares of Polaris by 3.0% during the first quarter. Confluence Investment Management LLC now owns 1,070,136 shares of the company’s stock valued at $112,707,000 after buying an additional 31,611 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Polaris Stock Performance

Shares of NYSE:PII opened at $115.08 on Friday. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 26.76 and a beta of 1.57. Polaris Inc. has a 52 week low of $94.24 and a 52 week high of $135.57. The company has a quick ratio of 0.41, a current ratio of 1.22 and a debt-to-equity ratio of 1.36. The firm has a 50 day moving average of $107.13 and a 200 day moving average of $108.72.

Polaris (NYSE:PII – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.36. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.17 billion. Polaris had a net margin of 3.27% and a return on equity of 41.72%. Polaris’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.70 earnings per share. On average, sell-side analysts predict that Polaris Inc. will post 10.12 earnings per share for the current fiscal year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.56 annualized dividend and a dividend yield of 2.22%. Polaris’s dividend payout ratio is presently 59.53%.

Analysts Set New Price Targets

Several research analysts have issued reports on PII shares. Jefferies Financial Group started coverage on Polaris in a research report on Tuesday, June 28th. They set a “hold” rating and a $105.00 target price for the company. Robert W. Baird dropped their target price on Polaris from $135.00 to $130.00 in a research report on Wednesday, July 27th. Northcoast Research restated a “buy” rating on shares of Polaris in a research report on Tuesday, May 17th. Citigroup dropped their target price on Polaris from $145.00 to $139.00 and set a “buy” rating for the company in a research report on Tuesday, April 19th. Finally, Raymond James dropped their target price on Polaris from $149.00 to $131.00 in a research report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.36.

About Polaris

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Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through six segments: ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.