Evercore Wealth Management Lowers stake in Polaris Industries (PII)

Polaris Industries (PII) : Evercore Wealth Management reduced its stake in Polaris Industries by 2.56% during the most recent quarter end. The investment management company now holds a total of 179,377 shares of Polaris Industries which is valued at $16,873,994 after selling 4,706 shares in Polaris Industries , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Polaris Industries makes up approximately 0.73% of Evercore Wealth Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in PII by selling 13,789 shares or 9.77% in the most recent quarter. The Hedge Fund company now holds 127,378 shares of PII which is valued at $11,982,448. Polaris Industries makes up approx 0.02% of California State Teachers Retirement System’s portfolio. Fox Run Management L.l.c. sold out all of its stake in PII during the most recent quarter. The investment firm sold 2,300 shares of PII which is valued $218,569.Sumitomo Life Insurance Co reduced its stake in PII by selling 122 shares or 2.01% in the most recent quarter. The Hedge Fund company now holds 5,935 shares of PII which is valued at $525,307. Polaris Industries makes up approx 0.07% of Sumitomo Life Insurance Co’s portfolio. Stock Yards Bank Trust Co sold out all of its stake in PII during the most recent quarter. The investment firm sold 2,262 shares of PII which is valued $187,135.

Polaris Industries opened for trading at $94.13 and hit $95.14 on the upside on Thursday, eventually ending the session at $94.37, with a gain of 0.32% or 0.3 points. The heightened volatility saw the trading volume jump to 4,19,772 shares. Company has a market cap of $6,048 M.

On the company’s financial health, Polaris Industries reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.05. The company had revenue of $1130.80 million for the quarter, compared to analysts expectations of $1100.47 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS.

Investors should note that on Jul 20, 2016, Polaris Industries announced a cash dividend of $0.5500. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Polaris Industries. Company shares were Reiterated by RBC Capital Mkts on Jul 21, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 88 from a previous price target of $84 .Polaris Industries was Downgraded by Raymond James to ” Mkt Perform” on Jul 12, 2016. Shares were Reiterated by RBC Capital Mkts on Jul 1, 2016 to “Sector Perform” and Lowered the Price Target to $ 84 from a previous price target of $97 .

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 small vehicles (SV). These products are sold through dealers and distributors located in the United States Canada and Europe. The Company’s ORVs include core ATVs and RANGER and RZR side-by-side vehicles. The Company produces a range of snowmobiles consisting of 32 models ranging from youth models to utility and economy models to performance and competition models. Polaris’ Motorcycles division consists of Victory Indian motorcycles and three-wheel roadster motorcycle Slingshot. The Company offer products in the light-duty hauling people mover and urban/suburban commuting sub-sectors of the small vehicles industry. The Company produces or supplies a range of replacement parts and accessories for its product lines.

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