Empowered Funds LLC Trims Position in Polaris Inc. (NYSE:PII)

Empowered Funds LLC decreased its holdings in shares of Polaris Inc. (NYSE:PII) by 50.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,495 shares of the company’s stock after selling 15,709 shares during the quarter. Empowered Funds LLC’s holdings in Polaris were worth $1,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PII. Vanguard Group Inc. boosted its stake in Polaris by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after buying an additional 94,680 shares during the last quarter. Confluence Investment Management LLC boosted its position in shares of Polaris by 0.7% in the third quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after acquiring an additional 6,724 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Polaris by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after purchasing an additional 96,194 shares during the last quarter. American Century Companies Inc. increased its position in Polaris by 311.6% during the second quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after purchasing an additional 292,992 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Polaris by 11.1% in the 2nd quarter. ProShare Advisors LLC now owns 359,039 shares of the company’s stock valued at $28,116,000 after purchasing an additional 35,952 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Polaris Stock Performance

Shares of PII opened at $66.89 on Friday. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 6.88 and a beta of 1.52. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $76.48 and its two-hundred day moving average is $79.36. Polaris Inc. has a 52-week low of $64.56 and a 52-week high of $100.91.

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

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued 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 3.95%. Polaris’s dividend payout ratio is currently 73.74%.

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.