State of New Jersey Common Pension Fund D Sells 453 Shares of Polaris Inc. (NYSE:PII)

State of New Jersey Common Pension Fund D cut its position in Polaris Inc. (NYSE:PII) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,836 shares of the company’s stock after selling 453 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Polaris were worth $1,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Polaris by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after buying an additional 94,680 shares in the last quarter. Confluence Investment Management LLC boosted its position in Polaris by 0.7% during the third quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after purchasing an additional 6,724 shares during the period. Dimensional Fund Advisors LP boosted 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 period. American Century Companies Inc. boosted 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 period. Finally, ProShare Advisors LLC boosted its position in Polaris by 11.1% during the second quarter. ProShare Advisors LLC now owns 359,039 shares of the company’s stock worth $28,116,000 after purchasing an additional 35,952 shares during the period. 88.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PII has been the subject of a number of research analyst reports. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. Citigroup reduced their target price on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. BMO Capital Markets reduced their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. KeyCorp reduced their target price on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America reduced their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Polaris has an average rating of “Hold” and a consensus price target of $87.09.

Polaris Stock Performance

Polaris stock opened at $66.82 on Monday. The business has a 50 day moving average of $77.45 and a 200-day moving average of $79.79. Polaris Inc. has a 1 year low of $66.06 and a 1 year high of $100.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The company has a market capitalization of $3.73 billion, a P/E ratio of 18.66, a P/E/G ratio of 6.98 and a beta of 1.52.

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

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s 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.