Confluence Investment Management LLC Has $134.79 Million Stock Holdings in Polaris Inc. (NYSE:PII)

Confluence Investment Management LLC reduced its stake in shares of Polaris Inc. (NYSE:PII) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,114,609 shares of the company’s stock after selling 10,941 shares during the quarter. Polaris accounts for 2.0% of Confluence Investment Management LLC’s holdings, making the stock its 11th biggest holding. Confluence Investment Management LLC owned approximately 1.96% of Polaris worth $134,790,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Polaris by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,885,506 shares of the company’s stock valued at $562,950,000 after buying an additional 89,717 shares during the period. BlackRock Inc. lifted its stake in shares of Polaris by 0.4% in the 1st quarter. BlackRock Inc. now owns 4,868,936 shares of the company’s stock valued at $538,650,000 after acquiring an additional 17,165 shares during the last quarter. State Street Corp boosted its holdings in shares of Polaris by 14.8% during the 1st quarter. State Street Corp now owns 4,136,582 shares of the company’s stock valued at $435,665,000 after acquiring an additional 532,947 shares in the last quarter. Capital World Investors grew its position in Polaris by 33.2% during the 1st quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock worth $389,534,000 after acquiring an additional 922,101 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Polaris by 8.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,422,384 shares of the company’s stock worth $244,661,000 after purchasing an additional 195,433 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Polaris

In other Polaris news, SVP Dougherty Lucy Clark sold 38,887 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $134.67, for a total transaction of $5,236,912.29. Following the completion of the transaction, the senior vice president now directly owns 18,414 shares of the company’s stock, valued at $2,479,813.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Dougherty Lucy Clark sold 38,887 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $134.67, for a total transaction of $5,236,912.29. Following the transaction, the senior vice president now owns 18,414 shares of the company’s stock, valued at approximately $2,479,813.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James P. Williams sold 14,000 shares of Polaris stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $130.00, for a total value of $1,820,000.00. Following the completion of the sale, the senior vice president now directly owns 16,001 shares of the company’s stock, valued at approximately $2,080,130. The disclosure for this sale can be found here. Insiders sold a total of 145,464 shares of company stock worth $19,593,994 in the last quarter. Insiders own 2.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised Polaris from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased their price objective on Polaris from $115.00 to $121.00 in a report on Wednesday, July 26th. KeyCorp lifted their target price on Polaris from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Truist Financial increased their price target on Polaris from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, Citigroup cut their price objective on Polaris from $138.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $121.64.

Polaris Trading Down 1.4 %

PII opened at $105.61 on Thursday. The company has a market cap of $5.99 billion, a P/E ratio of 9.86 and a beta of 1.68. The company has a fifty day moving average price of $121.90 and a two-hundred day moving average price of $114.82. The company has a current ratio of 1.20, a quick ratio of 0.36 and a debt-to-equity ratio of 1.21. Polaris Inc. has a 1-year low of $91.86 and a 1-year high of $138.49.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 25th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Polaris had a return on equity of 57.98% and a net margin of 6.89%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company posted $2.42 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Analysts predict that Polaris Inc. will post 10.41 EPS for the current fiscal year.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 31st. Polaris’s dividend payout ratio is currently 24.28%.

Polaris Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles worldwide. 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; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.