TD Asset Management Inc Lowers Position in Polaris Inc. (NYSE:PII)

Key Points

• TD Asset Management Inc decreased its stake in Polaris Inc. by 5.4%, now owning 137,044 shares valued at approximately $5.6 million.
• Polaris reported a quarterly EPS of $0.40, significantly exceeding analyst expectations of $0.05, despite a year-over-year revenue decline of 5.5%.
• The company announced a quarterly dividend of $0.67 per share, representing a yield of 5.4% and a negative payout ratio of -142.55%.

TD Asset Management Inc lessened its position in Polaris Inc. (NYSE:PII - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,044 shares of the company's stock after selling 7,876 shares during the period. TD Asset Management Inc owned 0.24% of Polaris worth $5,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Angeles Wealth Management LLC increased its holdings in Polaris by 99.7% in the 1st quarter. Angeles Wealth Management LLC now owns 45,679 shares of the company's stock worth $1,870,000 after purchasing an additional 22,804 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Polaris by 15.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,117 shares of the company's stock worth $209,000 after purchasing an additional 688 shares in the last quarter. Advisor OS LLC increased its holdings in Polaris by 22.9% in the 1st quarter. Advisor OS LLC now owns 5,527 shares of the company's stock worth $226,000 after purchasing an additional 1,030 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Polaris in the 1st quarter valued at about $283,000. Finally, Allianz Asset Management GmbH grew its position in shares of Polaris by 236.6% in the 1st quarter. Allianz Asset Management GmbH now owns 183,689 shares of the company's stock valued at $7,520,000 after buying an additional 129,112 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Polaris Trading Down 6.3%

Shares of Polaris stock traded down $3.34 on Friday, hitting $49.57. 2,201,354 shares of the company's stock traded hands, compared to its average volume of 1,752,665. Polaris Inc. has a one year low of $30.92 and a one year high of $87.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.04 and a quick ratio of 0.37. The company has a fifty day moving average of $44.54 and a two-hundred day moving average of $42.55. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -26.37 and a beta of 1.04.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.35. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $1.38 EPS. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Polaris's dividend payout ratio is -142.55%.

Wall Street Analyst Weigh In

A number of research firms have commented on PII. Royal Bank Of Canada upped their price target on Polaris from $34.00 to $56.00 and gave the company a "sector perform" rating in a research report on Wednesday. Morgan Stanley reduced their price target on Polaris from $31.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Citigroup reiterated a "sell" rating and issued a $27.00 price target (up previously from $23.00) on shares of Polaris in a research report on Monday, June 16th. Robert W. Baird upped their price target on Polaris from $46.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded Polaris from a "strong sell" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.33.

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.