Retirement Systems of Alabama Sells 75,174 Shares of Polaris Inc. (NYSE:PII)

Retirement Systems of Alabama trimmed its position in Polaris Inc. (NYSE:PII) by 54.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,658 shares of the company’s stock after selling 75,174 shares during the quarter. Retirement Systems of Alabama’s holdings in Polaris were worth $5,299,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Polaris by 12.2% in the 3rd quarter. Franklin Resources Inc. now owns 169,004 shares of the company’s stock worth $13,745,000 after purchasing an additional 18,418 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Polaris during the 3rd quarter valued at $535,000. Toronto Dominion Bank increased its holdings in shares of Polaris by 2.9% in the third quarter. Toronto Dominion Bank now owns 16,484 shares of the company’s stock worth $1,372,000 after purchasing an additional 465 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Polaris in the third quarter worth $516,000. Finally, M&T Bank Corp boosted its stake in Polaris by 10.9% during the third quarter. M&T Bank Corp now owns 3,141 shares of the company’s stock valued at $261,000 after buying an additional 309 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PII shares. DA Davidson decreased their target price on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird decreased their price target on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, KeyCorp dropped their price objective on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris has an average rating of “Hold” and an average price target of $87.09.

Polaris Stock Performance

Polaris stock opened at $58.18 on Thursday. The firm has a fifty day simple moving average of $69.90 and a two-hundred day simple moving average of $76.88. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Polaris Inc. has a twelve month low of $58.05 and a twelve month high of $100.91. The company has a market capitalization of $3.24 billion, a PE ratio of 16.25, a P/E/G ratio of 6.59 and a beta of 1.51.

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

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Monday, December 2nd. Polaris’s dividend payout ratio is 73.74%.

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.