State of New Jersey Common Pension Fund D Trims Stake in Polaris Inc. (NYSE:PII)

State of New Jersey Common Pension Fund D lowered its position in Polaris Inc. (NYSE:PII) by 23.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,289 shares of the company’s stock after selling 7,303 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Polaris were worth $1,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PII. Confluence Investment Management LLC purchased a new position in Polaris in the 1st quarter worth about $108,890,000. Eubel Brady & Suttman Asset Management Inc. purchased a new position in Polaris in the 2nd quarter worth about $15,363,000. Capital World Investors increased its stake in Polaris by 2.4% in the 4th 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 during the period. Norges Bank purchased a new position in Polaris in the 4th quarter worth about $12,168,000. Finally, Nomura Holdings Inc. increased its stake in Polaris by 116.0% in the 4th quarter. Nomura Holdings Inc. now owns 15,200 shares of the company’s stock worth $1,441,000 after buying an additional 110,200 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Robert W. Baird reduced their price target on shares of Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Citigroup cut their target price on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Longbow Research reissued a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. Roth Mkm cut their target price on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, BMO Capital Markets cut their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with 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 $89.18.

Polaris Stock Down 2.0 %

NYSE:PII opened at $82.66 on Tuesday. Polaris Inc. has a fifty-two week low of $71.90 and a fifty-two week high of $106.17. The stock has a market capitalization of $4.67 billion, a P/E ratio of 12.12, a P/E/G ratio of 7.42 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 1.42. The company’s 50-day simple moving average is $81.93 and its 200-day simple moving average is $84.08.

Polaris (NYSE:PII) last released its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the business earned $2.42 earnings per share. On average, equities analysts anticipate that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Tuesday, September 3rd. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

About Polaris

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.