Jefferies Group LLC raised its position in Polaris Industries Inc. (NYSE:PII) by 16.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,905 shares of the company’s stock after purchasing an additional 1,953 shares during the period. Jefferies Group LLC’s holdings in Polaris Industries were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PII. First Trust Advisors LP lifted its stake in Polaris Industries by 11.4% in the third quarter. First Trust Advisors LP now owns 17,026 shares of the company’s stock valued at $1,781,000 after buying an additional 1,749 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Polaris Industries in the third quarter valued at approximately $662,000. Andra AP fonden purchased a new stake in Polaris Industries in the third quarter valued at approximately $1,360,000. Principal Financial Group Inc. lifted its stake in Polaris Industries by 2.4% in the third quarter. Principal Financial Group Inc. now owns 250,647 shares of the company’s stock valued at $26,225,000 after buying an additional 5,894 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Polaris Industries by 0.8% in the third quarter. Swiss National Bank now owns 220,000 shares of the company’s stock valued at $23,019,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 85.15% of the company’s stock.
A number of brokerages have weighed in on PII. Sanford C. Bernstein reiterated a “market perform” rating and issued a $144.00 price objective (up previously from $121.00) on shares of Polaris Industries in a research note on Monday, January 29th. Royal Bank of Canada upgraded Polaris Industries from an “underperform” rating to a “sector perform” rating and set a $127.00 price objective for the company in a research note on Monday, January 22nd. Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Saturday, January 20th. Stephens set a $133.00 price target on Polaris Industries and gave the stock a “hold” rating in a research note on Friday, January 19th. Finally, Longbow Research upgraded Polaris Industries from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 17th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Polaris Industries has an average rating of “Hold” and an average price target of $112.50.
Polaris Industries (NYSE:PII) last released its quarterly earnings results on Tuesday, January 30th. The company reported $1.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.47. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Polaris Industries had a return on equity of 35.38% and a net margin of 3.18%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. research analysts forecast that Polaris Industries Inc. will post 6.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a $0.60 dividend. This is a boost from Polaris Industries’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, February 28th. This represents a $2.40 annualized dividend and a yield of 1.99%. Polaris Industries’s dividend payout ratio is presently 89.22%.
About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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