PNC Financial Services Group Inc. Reduces Position in Polaris Inc. (NYSE:PII)

PNC Financial Services Group Inc. reduced its position in Polaris Inc. (NYSE:PII) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,471 shares of the company’s stock after selling 1,375 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Polaris were worth $603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI increased its holdings in Polaris by 19.9% in the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after buying an additional 183 shares during the last quarter. Nordea Investment Management AB increased its holdings in Polaris by 0.6% in the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock valued at $1,676,000 after buying an additional 183 shares during the last quarter. Quarry LP increased its holdings in Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Polaris by 7.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock valued at $208,000 after buying an additional 263 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in Polaris by 10.9% in the third quarter. M&T Bank Corp now owns 3,141 shares of the company’s stock valued at $261,000 after buying an additional 309 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PII. Robert W. Baird lowered their price objective on Polaris from $64.00 to $56.00 and set an “outperform” rating for the company in a report on Monday. Citigroup lowered their target price on Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. BMO Capital Markets lowered their target price on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, January 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. Finally, StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.50.

Polaris Stock Performance

Shares of NYSE PII opened at $42.56 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The stock has a 50 day simple moving average of $48.03 and a 200-day simple moving average of $63.37. The company has a market cap of $2.39 billion, a PE ratio of 21.71, a P/E/G ratio of 13.95 and a beta of 1.54. Polaris Inc. has a 12-month low of $39.79 and a 12-month high of $100.91.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. On average, equities research analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.30%. This is an increase from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date was Monday, March 3rd. Polaris’s dividend payout ratio is 136.73%.

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.