Millennium Management LLC increased its stake in Polaris Industries Inc. (NYSE:PII) by 262.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,055 shares of the company’s stock after buying an additional 76,068 shares during the period. Millennium Management LLC owned about 0.17% of Polaris Industries worth $9,245,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Doyle Wealth Management acquired a new position in Polaris Industries during the 2nd quarter worth $30,000. FTB Advisors Inc. lifted its position in shares of Polaris Industries by 140.1% during the second quarter. FTB Advisors Inc. now owns 389 shares of the company’s stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Polaris Industries by 25,800.0% during the second quarter. Synovus Financial Corp now owns 518 shares of the company’s stock worth $47,000 after purchasing an additional 516 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new position in shares of Polaris Industries during the second quarter worth about $47,000. Finally, Litman Gregory Asset Management LLC acquired a new position in Polaris Industries in the second quarter worth about $49,000. Institutional investors and hedge funds own 75.74% of the company’s stock.
Shares of PII stock opened at $95.50 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 1.77. The business has a 50 day moving average of $99.17 and a two-hundred day moving average of $89.95. Polaris Industries Inc. has a 52 week low of $70.27 and a 52 week high of $104.25. The company has a market cap of $5.84 billion, a P/E ratio of 14.56, a PEG ratio of 1.30 and a beta of 1.46.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 29th. This represents a $2.44 dividend on an annualized basis and a yield of 2.55%. Polaris Industries’s payout ratio is currently 37.20%.
Several analysts recently weighed in on the company. Lake Street Capital boosted their price objective on Polaris Industries from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. ValuEngine raised Polaris Industries from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. KeyCorp set a $125.00 target price on Polaris Industries and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wedbush boosted their price target on Polaris Industries from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Zacks Investment Research raised Polaris Industries from a “sell” rating to a “hold” rating and set a $113.00 price target on the stock in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $109.46.
Polaris Industries Company 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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