New York State Teachers Retirement System Decreases Position in Polaris Inc. (NYSE:PII)

New York State Teachers Retirement System lowered its position in Polaris Inc. (NYSE:PII) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,303 shares of the company’s stock after selling 1,808 shares during the quarter. New York State Teachers Retirement System’s holdings in Polaris were worth $4,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PII. Blue Trust Inc. lifted its holdings in shares of Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Bessemer Group Inc. increased its position in Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after buying an additional 235 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 worth $51,000 after acquiring an additional 618 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Polaris in the second quarter valued at $57,000. Finally, National Bank of Canada FI boosted its stake in shares of Polaris by 27.9% during the second quarter. National Bank of Canada FI now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Trading Up 0.6 %

NYSE:PII opened at $71.29 on Wednesday. The business’s 50-day moving average is $80.06 and its two-hundred day moving average is $80.86. The firm has a market capitalization of $3.98 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 7.36 and a beta of 1.52. Polaris Inc. has a 12 month low of $68.59 and a 12 month high of $100.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

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

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.66 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.70%. Polaris’s payout ratio is currently 73.74%.

Analysts Set New Price Targets

PII has been the subject of several analyst reports. Bank of America cut their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. DA Davidson lowered their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets reduced their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their price objective on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Finally, Longbow Research reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.09.

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.