Polaris Inc. (NYSE:PII) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Polaris Inc. (NYSE:PII - Free Report) by 45.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 776,473 shares of the company's stock after buying an additional 241,926 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.39% of Polaris worth $44,740,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PII. National Bank of Canada FI boosted its stake in Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company's stock worth $92,000 after purchasing an additional 183 shares during the period. Nordea Investment Management AB grew its holdings in Polaris by 0.6% during the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company's stock valued at $1,676,000 after purchasing an additional 183 shares during the last quarter. Quarry LP raised its holdings in shares of Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company's stock worth $32,000 after buying an additional 253 shares during the period. Claro Advisors LLC lifted its position in shares of Polaris by 3.3% during the third quarter. Claro Advisors LLC now owns 7,881 shares of the company's stock worth $656,000 after purchasing an additional 254 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Polaris by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company's stock worth $208,000 after buying an additional 263 shares during the period. 88.06% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

PII has been the topic of several research reports. DA Davidson cut their price target on Polaris from $69.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Truist Financial lowered their target price on Polaris from $60.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. 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. UBS Group decreased their price objective on Polaris from $67.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Finally, KeyCorp downgraded shares of Polaris from an "overweight" rating to a "sector weight" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $66.17.

Polaris Stock Performance

PII traded down $0.09 on Monday, reaching $47.43. 2,239,900 shares of the stock were exchanged, compared to its average volume of 932,194. The company's 50-day moving average price is $49.94 and its 200 day moving average price is $65.39. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The firm has a market capitalization of $2.66 billion, a PE ratio of 24.20, a PEG ratio of 13.95 and a beta of 1.54. Polaris Inc. has a fifty-two week low of $39.79 and a fifty-two week high of $100.91.

Polaris (NYSE:PII - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. As a group, sell-side analysts forecast that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.65%. This is a positive change from Polaris's previous quarterly dividend of $0.66. Polaris's dividend payout ratio (DPR) is presently 136.73%.

Polaris 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.