Polaris Inc. $PII Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI drastically reduced its investment in Polaris Inc. by 97.3%, selling 49,133 shares and holding only 1,342 shares valued at $55,000.
• Polaris recently announced a quarterly dividend of $0.67, resulting in a yield of 4.8%, although the company's dividend payout ratio stands at -142.55%.
• Analysts have set a consensus rating of "Hold" for Polaris shares, with a target price averaging $48.33.

National Bank of Canada FI trimmed its position in Polaris Inc. (NYSE:PII - Free Report) by 97.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,342 shares of the company's stock after selling 49,133 shares during the period. National Bank of Canada FI's holdings in Polaris were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PII. Envestnet Asset Management Inc. grew its position in shares of Polaris by 8.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 41,445 shares of the company's stock worth $2,388,000 after acquiring an additional 3,210 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Polaris by 58.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,095 shares of the company's stock worth $178,000 after acquiring an additional 1,139 shares in the last quarter. Barclays PLC grew its position in shares of Polaris by 31.6% in the 4th quarter. Barclays PLC now owns 51,074 shares of the company's stock worth $2,944,000 after acquiring an additional 12,269 shares in the last quarter. Mariner LLC boosted its holdings in Polaris by 1.2% in the fourth quarter. Mariner LLC now owns 51,759 shares of the company's stock worth $2,982,000 after purchasing an additional 625 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in Polaris by 66.5% in the fourth quarter. Guggenheim Capital LLC now owns 26,687 shares of the company's stock worth $1,538,000 after purchasing an additional 10,656 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup reaffirmed a "sell" rating and issued a $27.00 price objective (up previously from $23.00) on shares of Polaris in a report on Monday, June 16th. Morgan Stanley decreased their price target on shares of Polaris from $31.00 to $29.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Wall Street Zen raised shares of Polaris from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Robert W. Baird lifted their target price on Polaris from $46.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada lifted their target price on Polaris from $34.00 to $56.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $48.33.

Polaris Stock Performance

Shares of NYSE PII opened at $56.37 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.37 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of $47.72 and a 200-day simple moving average of $42.68. The company has a market cap of $3.17 billion, a PE ratio of -29.98 and a beta of 1.04. Polaris Inc. has a 12-month low of $30.92 and a 12-month high of $87.83.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share (EPS) 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 company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm's quarterly revenue was down 5.5% on a year-over-year basis. On average, equities research analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.68 annualized dividend and a yield of 4.8%. Polaris's dividend payout ratio is presently -142.55%.

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.

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