Taylor Hoffman Wealth Management Cuts Stock Holdings in Polaris Industries Inc. (NYSE:PII)

Taylor Hoffman Wealth Management trimmed its holdings in shares of Polaris Industries Inc. (NYSE:PII) by 21.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,280 shares of the company’s stock after selling 1,474 shares during the period. Taylor Hoffman Wealth Management’s holdings in Polaris Industries were worth $482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coastal Investment Advisors Inc. raised its stake in Polaris Industries by 88.5% in the second quarter. Coastal Investment Advisors Inc. now owns 526 shares of the company’s stock worth $49,000 after buying an additional 247 shares in the last quarter. Litman Gregory Asset Management LLC bought a new position in shares of Polaris Industries during the second quarter valued at approximately $49,000. Meeder Asset Management Inc. bought a new position in shares of Polaris Industries during the second quarter valued at approximately $79,000. Private Capital Group LLC increased its stake in shares of Polaris Industries by 97.6% during the first quarter. Private Capital Group LLC now owns 889 shares of the company’s stock valued at $75,000 after purchasing an additional 439 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Polaris Industries during the first quarter valued at approximately $84,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Shares of NYSE:PII traded up $2.09 during trading on Monday, reaching $82.00. 25,943 shares of the stock traded hands, compared to its average volume of 814,734. The stock has a 50-day moving average of $88.62 and a two-hundred day moving average of $88.75. Polaris Industries Inc. has a 52-week low of $70.27 and a 52-week high of $115.40. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.33 and a current ratio of 1.18. The stock has a market cap of $4.88 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.09 and a beta of 1.38.

Polaris Industries (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.07. Polaris Industries had a net margin of 4.94% and a return on equity of 45.12%. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted $1.77 earnings per share. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. Sell-side analysts expect that Polaris Industries Inc. will post 6.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, August 30th. Polaris Industries’s dividend payout ratio is currently 37.20%.

A number of equities analysts have weighed in on PII shares. UBS Group raised shares of Polaris Industries from a “neutral” rating to a “buy” rating and raised their target price for the company from $97.00 to $105.00 in a research note on Wednesday, July 31st. TheStreet raised shares of Polaris Industries from a “c+” rating to a “b-” rating in a research note on Monday, April 22nd. SunTrust Banks raised their target price on shares of Polaris Industries to $102.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Wells Fargo & Co raised their target price on shares of Polaris Industries from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Goldman Sachs Group started coverage on shares of Polaris Industries in a research note on Wednesday, April 24th. They set a “buy” rating and a $123.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Polaris Industries presently has an average rating of “Buy” and an average price target of $106.42.

Polaris Industries Profile

Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bike conversion kit systems; motorcycles; low emission, light duty hauling, passenger, and industrial vehicles; and boats.

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Institutional Ownership by Quarter for Polaris Industries (NYSE:PII)

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