ARGA Investment Management LP Grows Stock Holdings in Polaris Inc. (NYSE:PII)

ARGA Investment Management LP lifted its stake in shares of Polaris Inc. (NYSE:PII - Free Report) by 42.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,162 shares of the company's stock after acquiring an additional 10,539 shares during the period. ARGA Investment Management LP owned 0.06% of Polaris worth $2,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PII. Venturi Wealth Management LLC boosted its position in shares of Polaris by 534.5% during the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company's stock valued at $29,000 after buying an additional 294 shares during the last quarter. Blue Trust Inc. boosted its holdings in Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company's stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Signaturefd LLC grew its stake in shares of Polaris by 1,931.3% in the 2nd quarter. Signaturefd LLC now owns 650 shares of the company's stock worth $51,000 after acquiring an additional 618 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Polaris in the 2nd quarter worth $57,000. Finally, National Bank of Canada FI raised its holdings in shares of Polaris by 27.9% in the second quarter. National Bank of Canada FI now owns 918 shares of the company's stock valued at $69,000 after purchasing an additional 200 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PII shares. Robert W. Baird dropped their target price on shares of Polaris from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. StockNews.com upgraded Polaris from a "sell" rating to a "hold" rating in a report on Thursday. KeyCorp reduced their price objective on Polaris from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. DA Davidson lowered their target price on Polaris from $87.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price target on shares of Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $87.09.

Polaris Price Performance

NYSE PII traded up $0.73 on Friday, hitting $69.00. The stock had a trading volume of 321,793 shares, compared to its average volume of 678,121. The firm has a 50-day moving average of $74.66 and a 200-day moving average of $78.57. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 7.21 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. Polaris Inc. has a 52-week low of $64.56 and a 52-week high of $100.91.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the business posted $2.71 EPS. The company's quarterly revenue was down 23.4% on a year-over-year basis. Equities analysts expect that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Announces Dividend

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 given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris's dividend payout ratio (DPR) is 73.74%.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. 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; and moto-roadsters, quadricycles, and boats.