Invesco Ltd. cut its position in Polaris Inc. (NYSE:PII - Free Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,511 shares of the company's stock after selling 22,512 shares during the quarter. Invesco Ltd. owned 0.36% of Polaris worth $11,496,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Artisan Partners Limited Partnership grew its position in Polaris by 132.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company's stock valued at $51,909,000 after acquiring an additional 513,542 shares in the last quarter. Norges Bank purchased a new position in shares of Polaris in the fourth quarter valued at approximately $24,659,000. Raymond James Financial Inc. acquired a new position in shares of Polaris in the fourth quarter valued at approximately $21,776,000. American Century Companies Inc. increased its stake in Polaris by 32.5% during the 4th quarter. American Century Companies Inc. now owns 995,872 shares of the company's stock worth $57,382,000 after buying an additional 244,252 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Polaris by 45.3% during the 4th quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company's stock worth $44,740,000 after buying an additional 241,926 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.
Polaris Trading Up 3.8 %
Shares of Polaris stock opened at $34.28 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The company has a fifty day simple moving average of $40.75 and a 200-day simple moving average of $55.19. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 13.95 and a beta of 1.32. Polaris Inc. has a 12-month low of $30.92 and a 12-month high of $90.62.
Polaris (NYSE:PII - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) 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%. On average, equities analysts forecast that Polaris Inc. will post 1.11 EPS 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 paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from Polaris's previous quarterly dividend of $0.66. Polaris's dividend payout ratio (DPR) is currently 136.73%.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Baird R W downgraded shares of Polaris from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. BMO Capital Markets cut their price target on Polaris from $60.00 to $50.00 and set a "market perform" rating on the stock in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $54.00 price target on shares of Polaris in a research report on Monday, March 17th. Robert W. Baird downgraded Polaris from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $56.00 to $40.00 in a research report on Friday, April 4th. Finally, Truist Financial reduced their target price on shares of Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $50.64.
Get Our Latest Analysis on PII
Polaris Profile
(
Free Report)
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.
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