Suntrust Banks Inc. Raises Position in Polaris Industries Inc. (PII)
Suntrust Banks Inc. increased its position in shares of Polaris Industries Inc. (NYSE:PII) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,064 shares of the company’s stock after purchasing an additional 1,137 shares during the quarter. Suntrust Banks Inc.’s holdings in Polaris Industries were worth $835,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in Polaris Industries by 1.0% during the second quarter. IFP Advisors Inc now owns 1,274 shares of the company’s stock worth $118,000 after purchasing an additional 13 shares during the last quarter. Sheets Smith Wealth Management raised its holdings in Polaris Industries by 0.6% during the second quarter. Sheets Smith Wealth Management now owns 2,454 shares of the company’s stock worth $226,000 after purchasing an additional 14 shares during the last quarter. CAPROCK Group Inc. raised its holdings in Polaris Industries by 0.5% during the second quarter. CAPROCK Group Inc. now owns 4,990 shares of the company’s stock worth $460,000 after purchasing an additional 27 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Polaris Industries by 0.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 8,523 shares of the company’s stock worth $786,000 after purchasing an additional 35 shares during the last quarter. Finally, AMG Funds LLC raised its holdings in Polaris Industries by 0.4% during the second quarter. AMG Funds LLC now owns 11,805 shares of the company’s stock worth $1,089,000 after purchasing an additional 42 shares during the last quarter. 95.20% of the stock is owned by hedge funds and other institutional investors.
Polaris Industries Inc. (NYSE:PII) opened at 104.56 on Friday. Polaris Industries Inc. has a 12-month low of $73.07 and a 12-month high of $108.46. The stock has a 50 day moving average price of $99.93 and a 200-day moving average price of $90.26. The firm has a market capitalization of $6.54 billion, a PE ratio of 43.73 and a beta of 1.31.
Polaris Industries (NYSE:PII) last announced its quarterly earnings data on Thursday, July 20th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts forecast that Polaris Industries Inc. will post $4.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, August 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. Polaris Industries’s dividend payout ratio (DPR) is presently 97.07%.
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Several equities analysts recently issued reports on the company. BidaskClub cut Polaris Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. TheStreet raised Polaris Industries from a “c” rating to a “b-” rating in a report on Thursday, July 20th. Zacks Investment Research cut Polaris Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 29th. Stifel Nicolaus lifted their price objective on Polaris Industries from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, July 14th. Finally, Aegis reaffirmed a “buy” rating and set a $107.00 price objective on shares of Polaris Industries in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $91.31.
In other Polaris Industries news, CEO Scott W. Wine bought 1,293 shares of Polaris Industries stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $88.81 per share, for a total transaction of $114,831.33. Following the completion of the acquisition, the chief executive officer now directly owns 317,000 shares of the company’s stock, valued at $28,152,770. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James P. Williams sold 5,250 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $93.24, for a total value of $489,510.00. Following the completion of the sale, the senior vice president now owns 19,914 shares of the company’s stock, valued at approximately $1,856,781.36. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Polaris Industries Profile
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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