Polaris Inc. (NYSE:PII) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Polaris Inc. (NYSE:PII) by 14.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,016 shares of the company’s stock after purchasing an additional 1,545 shares during the period. PNC Financial Services Group Inc.’s holdings in Polaris were worth $492,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PII. Capital World Investors grew its stake in shares of Polaris by 6.7% in the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock valued at $354,725,000 after buying an additional 388,050 shares during the period. RWWM Inc. raised its position in shares of Polaris by 169.2% during the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company’s stock valued at $98,053,000 after buying an additional 1,505,351 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Polaris by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,284,077 shares of the company’s stock valued at $131,609,000 after acquiring an additional 21,087 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Polaris by 17.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,070,862 shares of the company’s stock worth $61,702,000 after acquiring an additional 162,958 shares during the period. Finally, Brown Advisory Inc. increased its stake in Polaris by 4.6% during the fourth quarter. Brown Advisory Inc. now owns 525,028 shares of the company’s stock worth $30,252,000 after acquiring an additional 22,853 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PII shares. Wall Street Zen raised Polaris from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Robert W. Baird boosted their price objective on shares of Polaris from $46.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Citigroup reaffirmed a “sell” rating and set a $27.00 target price (up previously from $23.00) on shares of Polaris in a research note on Monday, June 16th. BMO Capital Markets reiterated a “market perform” rating and set a $52.00 price target (up from $33.00) on shares of Polaris in a research report on Wednesday, July 30th. Finally, Morgan Stanley reduced their price target on shares of Polaris from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.33.

Polaris Stock Up 7.5%

Polaris stock opened at $59.46 on Thursday. The firm has a market capitalization of $3.34 billion, a P/E ratio of -31.63 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 0.37 and a debt-to-equity ratio of 1.17. Polaris Inc. has a twelve month low of $30.92 and a twelve month high of $87.83. The stock’s fifty day simple moving average is $46.74 and its 200-day simple moving average is $42.64.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.35. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $1.38 EPS. Polaris’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities analysts expect that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.5%. Polaris’s payout ratio is presently -142.55%.

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.