Bank of New York Mellon Corp Purchases 42,596 Shares of Polaris Industries Inc. (PII)
Bank of New York Mellon Corp raised its position in shares of Polaris Industries Inc. (NYSE:PII) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 899,134 shares of the company’s stock after buying an additional 42,596 shares during the quarter. Bank of New York Mellon Corp owned about 1.44% of Polaris Industries worth $94,076,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PII. Vanguard Group Inc. increased its holdings in shares of Polaris Industries by 6.1% during the second quarter. Vanguard Group Inc. now owns 5,627,636 shares of the company’s stock valued at $519,037,000 after acquiring an additional 323,616 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Polaris Industries by 12.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,256,665 shares of the company’s stock valued at $484,822,000 after acquiring an additional 572,461 shares in the last quarter. State Street Corp increased its holdings in shares of Polaris Industries by 3.8% during the second quarter. State Street Corp now owns 4,377,894 shares of the company’s stock valued at $403,763,000 after acquiring an additional 161,055 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Polaris Industries by 0.4% during the second quarter. Wells Fargo & Company MN now owns 3,504,980 shares of the company’s stock valued at $323,265,000 after acquiring an additional 12,865 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Polaris Industries by 27,968.2% during the second quarter. Janus Henderson Group PLC now owns 2,411,062 shares of the company’s stock valued at $222,372,000 after acquiring an additional 2,402,472 shares in the last quarter. 91.37% of the stock is owned by institutional investors and hedge funds.
PII has been the subject of several analyst reports. Northcoast Research restated a “hold” rating on shares of Polaris Industries in a report on Tuesday, September 5th. Robert W. Baird restated a “neutral” rating on shares of Polaris Industries in a report on Sunday, September 3rd. Royal Bank Of Canada raised their price target on Polaris Industries from $81.00 to $91.00 and gave the company an “underperform” rating in a report on Wednesday, October 25th. UBS AG reduced their price target on Polaris Industries from $108.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, September 15th. Finally, BMO Capital Markets raised their price target on Polaris Industries from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $99.27.
In related news, SVP Stacy L. Bogart sold 20,000 shares of Polaris Industries stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $122.05, for a total value of $2,441,000.00. Following the completion of the sale, the senior vice president now directly owns 30,975 shares in the company, valued at approximately $3,780,498.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James P. Williams sold 5,250 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $93.24, for a total value of $489,510.00. Following the sale, the senior vice president now owns 19,914 shares of the company’s stock, valued at $1,856,781.36. The disclosure for this sale can be found here. Insiders sold a total of 41,852 shares of company stock valued at $4,930,631 over the last quarter. 2.20% of the stock is owned by corporate insiders.
Polaris Industries Inc. (NYSE:PII) traded down $0.50 during midday trading on Friday, reaching $123.14. The company had a trading volume of 152,218 shares, compared to its average volume of 670,377. Polaris Industries Inc. has a 52 week low of $77.91 and a 52 week high of $126.85. The company has a market cap of $7,701.42, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.34.
Polaris Industries (NYSE:PII) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.22 by $0.24. Polaris Industries had a return on equity of 33.81% and a net margin of 3.90%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $0.50 EPS. Polaris Industries’s revenue for the quarter was up 24.8% on a year-over-year basis. equities research analysts anticipate that Polaris Industries Inc. will post 4.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.58 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.32 annualized dividend and a yield of 1.88%. Polaris Industries’s payout ratio is 73.19%.
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About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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