Oppenheimer Asset Management Inc. Sells 1,181 Shares of Polaris Inc. (NYSE:PII)

Oppenheimer Asset Management Inc. reduced its holdings in shares of Polaris Inc. (NYSE:PII) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,617 shares of the company’s stock after selling 1,181 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Polaris were worth $1,664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PII. American Century Companies Inc. increased its holdings in Polaris by 94.8% during the third quarter. American Century Companies Inc. now owns 76,449 shares of the company’s stock valued at $7,961,000 after buying an additional 37,209 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Polaris by 86.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,055 shares of the company’s stock valued at $1,984,000 after buying an additional 8,819 shares during the last quarter. Diversified Trust Co purchased a new stake in Polaris during the fourth quarter valued at approximately $2,349,000. BKM Wealth Management LLC purchased a new stake in Polaris during the fourth quarter valued at approximately $31,000. Finally, Raymond James Trust N.A. increased its holdings in Polaris by 5.9% during the fourth quarter. Raymond James Trust N.A. now owns 3,199 shares of the company’s stock valued at $303,000 after buying an additional 179 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Price Performance

Shares of NYSE:PII opened at $81.53 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 1.47. The firm has a fifty day moving average price of $80.21 and a 200 day moving average price of $87.50. Polaris Inc. has a fifty-two week low of $73.26 and a fifty-two week high of $138.49. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 2.93 and a beta of 1.53.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. Polaris’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, sell-side analysts expect that Polaris Inc. will post 7.69 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.66 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.64 annualized dividend and a yield of 3.24%. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada reduced their target price on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. Bank of America initiated coverage on shares of Polaris in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective for the company. Robert W. Baird reduced their price objective on shares of Polaris from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, July 3rd. Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Monday, April 8th. Finally, DA Davidson reduced their price objective on shares of Polaris from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and a consensus target price of $98.45.

Polaris Company 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.