Handelsbanken Fonder AB Cuts Stake in Polaris Inc. $PII

Handelsbanken Fonder AB reduced its holdings in shares of Polaris Inc. (NYSE:PII) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,100 shares of the company’s stock after selling 1,300 shares during the period. Handelsbanken Fonder AB’s holdings in Polaris were worth $533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Parkside Financial Bank & Trust grew its holdings in shares of Polaris by 371.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 693 shares of the company’s stock valued at $28,000 after purchasing an additional 546 shares during the last quarter. EMC Capital Management bought a new position in shares of Polaris during the second quarter valued at about $36,000. Huntington National Bank increased its holdings in shares of Polaris by 218.0% in the second quarter. Huntington National Bank now owns 1,062 shares of the company’s stock worth $43,000 after buying an additional 728 shares during the period. Fifth Third Bancorp lifted its stake in shares of Polaris by 39.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,393 shares of the company’s stock valued at $57,000 after acquiring an additional 397 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Polaris by 79.0% in the 2nd quarter. UMB Bank n.a. now owns 1,441 shares of the company’s stock worth $59,000 after purchasing an additional 636 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PII. Roth Capital lifted their target price on shares of Polaris from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Zacks Research raised shares of Polaris from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Loop Capital initiated coverage on Polaris in a research note on Thursday, November 13th. They issued a “hold” rating and a $59.00 target price on the stock. Wall Street Zen raised Polaris from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Polaris in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Polaris presently has an average rating of “Hold” and a consensus price target of $55.25.

Polaris Stock Performance

Shares of Polaris stock opened at $66.36 on Friday. Polaris Inc. has a 12 month low of $30.92 and a 12 month high of $75.25. The firm has a market capitalization of $3.73 billion, a P/E ratio of -25.04 and a beta of 1.09. The company has a current ratio of 1.02, a quick ratio of 0.37 and a debt-to-equity ratio of 1.13. The business has a fifty day simple moving average of $64.09 and a two-hundred day simple moving average of $53.97.

Polaris (NYSE:PII) last issued its quarterly earnings results on Monday, October 27th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Polaris had a negative net margin of 2.17% and a positive return on equity of 3.89%. Polaris’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. On average, equities analysts forecast that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, December 1st. Polaris’s dividend payout ratio (DPR) is -101.13%.

Polaris 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.