Capital World Investors Buys 388,050 Shares of Polaris Inc. (NYSE:PII)

Capital World Investors boosted its position in shares of Polaris Inc. (NYSE:PII - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,156,285 shares of the company's stock after buying an additional 388,050 shares during the quarter. Capital World Investors owned approximately 11.04% of Polaris worth $354,725,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP raised its holdings in Polaris by 74.0% during the 4th quarter. Quantbot Technologies LP now owns 35,944 shares of the company's stock worth $2,071,000 after purchasing an additional 15,283 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Polaris by 14.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 116,302 shares of the company's stock valued at $6,701,000 after purchasing an additional 14,790 shares during the period. Raymond James Financial Inc. bought a new position in shares of Polaris in the 4th quarter worth $21,776,000. State of Alaska Department of Revenue grew its stake in shares of Polaris by 371.7% during the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company's stock worth $1,669,000 after purchasing an additional 22,835 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Polaris in the fourth quarter valued at about $611,000. 88.06% of the stock is currently owned by institutional investors.

Polaris Stock Performance

Shares of PII traded down $0.85 during mid-day trading on Friday, reaching $34.36. The company's stock had a trading volume of 1,197,591 shares, compared to its average volume of 1,087,903. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. Polaris Inc. has a 1-year low of $30.92 and a 1-year high of $90.62. The business has a 50-day simple moving average of $40.34 and a two-hundred day simple moving average of $54.74. The stock has a market cap of $1.93 billion, a P/E ratio of 17.53, a PEG ratio of 13.95 and a beta of 1.32.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. As a group, equities research analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.67 per share. This is a boost from Polaris's previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 7.80%. The ex-dividend date of this dividend was Monday, March 3rd. Polaris's dividend payout ratio (DPR) is presently 136.73%.

Analyst Ratings Changes

PII has been the subject of a number of recent analyst reports. KeyCorp cut Polaris from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, January 8th. Bank of America decreased their target price on Polaris from $55.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Roth Capital reaffirmed a "neutral" rating on shares of Polaris in a research report on Tuesday. Citigroup lowered Polaris from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $49.00 to $33.00 in a research report on Thursday, March 20th. Finally, StockNews.com downgraded shares of Polaris from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $50.64.

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.