Confluence Investment Management LLC Sells 10,941 Shares of Polaris Inc. (NYSE:PII)

Confluence Investment Management LLC cut its holdings in Polaris Inc. (NYSE:PII) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,114,609 shares of the company’s stock after selling 10,941 shares during the quarter. Polaris makes up 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 SEC filing.

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

Insider Buying and Selling at Polaris

In other Polaris news, Director Kevin M. Farr sold 1,615 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $134.33, for a total transaction of $216,942.95. Following the transaction, the director now owns 17,870 shares in the company, valued at $2,400,477.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Polaris news, Director Kevin M. Farr sold 1,615 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $134.33, for a total value of $216,942.95. Following the completion of the transaction, the director now owns 17,870 shares in the company, valued at approximately $2,400,477.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael T. Speetzen sold 58,301 shares of Polaris stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $136.14, for a total value of $7,937,098.14. Following the sale, the chief executive officer now owns 56,067 shares in the company, valued at $7,632,961.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,464 shares of company stock valued at $19,593,994. Company insiders own 2.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PII. BMO Capital Markets boosted their price target on Polaris from $110.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, July 26th. Raymond James cut shares of Polaris from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, July 18th. Royal Bank of Canada lifted their price target on shares of Polaris from $115.00 to $121.00 in a report on Wednesday, July 26th. Robert W. Baird restated an “outperform” rating and issued a $140.00 price objective on shares of Polaris in a report on Thursday, September 7th. Finally, Truist Financial raised their price objective on Polaris from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Polaris presently has an average rating of “Hold” and an average target price of $121.64.

Polaris Stock Performance

NYSE:PII opened at $105.61 on Thursday. The firm has a market capitalization of $5.99 billion, a P/E ratio of 9.86 and a beta of 1.68. Polaris Inc. has a twelve month low of $91.86 and a twelve month high of $138.49. The company has a fifty day moving average of $121.90 and a 200-day moving average of $114.82. The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 1.21.

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

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.65 dividend. The ex-dividend date is Thursday, August 31st. This represents a $2.60 annualized dividend and a yield of 2.46%. Polaris’s payout ratio is currently 24.28%.

Polaris Company 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.