Massachusetts Financial Services Co. MA Sells 6,166 Shares of Polaris Inc. (NYSE:PII)

Massachusetts Financial Services Co. MA cut its holdings in Polaris Inc. (NYSE:PII) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,309 shares of the company’s stock after selling 6,166 shares during the period. Massachusetts Financial Services Co. MA owned 0.09% of Polaris worth $3,783,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Confluence Investment Management LLC bought a new position in shares of Polaris in the first quarter worth $108,890,000. American Century Companies Inc. grew its holdings in Polaris by 311.6% during the 2nd quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock valued at $30,307,000 after buying an additional 292,992 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new stake in shares of Polaris during the second quarter valued at about $15,363,000. Capital World Investors lifted its holdings in shares of Polaris by 2.4% in the fourth quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after buying an additional 160,918 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Polaris in the fourth quarter valued at approximately $12,168,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PII. Bank of America lowered their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price objective on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Roth Mkm decreased their target price on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Finally, Royal Bank of Canada cut their price objective on Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $89.18.

Polaris Price Performance

PII opened at $84.33 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $81.92 and its 200 day simple moving average is $84.20. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 7.42 and a beta of 1.51. Polaris Inc. has a 1 year low of $71.90 and a 1 year high of $106.17.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, analysts predict that Polaris Inc. will post 3.79 earnings per share for the current year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.66 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.13%. Polaris’s dividend payout ratio is currently 38.71%.

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.