The Manufacturers Life Insurance Company bought a new stake in shares of Polaris Industries Inc. (NYSE:PII) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,201,939 shares of the company’s stock, valued at approximately $247,958,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. BB&T Corp increased its position in Polaris Industries by 10.3% in the second quarter. BB&T Corp now owns 82,706 shares of the company’s stock valued at $6,762,000 after buying an additional 7,716 shares during the period. Saratoga Research & Investment Management increased its position in Polaris Industries by 821.3% in the second quarter. Saratoga Research & Investment Management now owns 321,495 shares of the company’s stock valued at $26,285,000 after buying an additional 286,598 shares during the period. Nordea Investment Management AB increased its position in Polaris Industries by 1,629.2% in the second quarter. Nordea Investment Management AB now owns 29,448 shares of the company’s stock valued at $2,408,000 after buying an additional 27,745 shares during the period. Chicago Equity Partners LLC purchased a new position in Polaris Industries during the second quarter valued at $1,077,000. Finally, Parsec Financial Management Inc. increased its position in Polaris Industries by 25.7% in the second quarter. Parsec Financial Management Inc. now owns 57,273 shares of the company’s stock valued at $4,683,000 after buying an additional 11,696 shares during the period. Institutional investors and hedge funds own 93.72% of the company’s stock.
Shares of Polaris Industries Inc. (NYSE:PII) opened at 85.90 on Friday. Polaris Industries Inc. has a one year low of $67.80 and a one year high of $104.25. The company has a 50-day moving average price of $84.44 and a 200 day moving average price of $84.29. The firm has a market capitalization of $5.50 billion, a P/E ratio of 21.63 and a beta of 1.25.
Polaris Industries (NYSE:PII) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $317.71 million. Polaris Industries had a net margin of 5.93% and a return on equity of 27.74%. The firm’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.30 earnings per share. Analysts expect that Polaris Industries Inc. will post $3.47 earnings per share for the current fiscal year.
Several research firms have recently weighed in on PII. Zacks Investment Research upgraded Polaris Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Jefferies Group set a $78.00 price objective on Polaris Industries and gave the stock a “hold” rating in a research report on Thursday, December 1st. BMO Capital Markets upgraded Polaris Industries to an “outperform” rating in a research report on Thursday, January 12th. Cleveland Research started coverage on Polaris Industries in a research report on Wednesday, December 21st. They set a “neutral” rating on the stock. Finally, B. Riley reiterated a “neutral” rating and set a $78.00 price objective on shares of Polaris Industries in a research report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company’s stock. Polaris Industries has a consensus rating of “Hold” and a consensus price target of $86.07.
About Polaris Industries
Polaris Industries Inc (Polaris) designs, engineers and manufactures 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, together with the related parts, garments and accessories.
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