Meiji Yasuda Asset Management Co Ltd. Acquires 14,790 Shares of Polaris Inc. (NYSE:PII)

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Polaris Inc. (NYSE:PII - Free Report) by 14.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,302 shares of the company's stock after purchasing an additional 14,790 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned about 0.21% of Polaris worth $6,701,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in shares of Polaris by 25.7% during the third quarter. Natixis Advisors LLC now owns 23,660 shares of the company's stock valued at $1,969,000 after purchasing an additional 4,831 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Polaris by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company's stock worth $46,232,000 after buying an additional 171,366 shares during the last quarter. Cerity Partners LLC increased its position in Polaris by 11.5% during the 3rd quarter. Cerity Partners LLC now owns 41,564 shares of the company's stock valued at $3,460,000 after buying an additional 4,303 shares in the last quarter. Truvestments Capital LLC purchased a new position in Polaris during the third quarter valued at $181,000. Finally, Hancock Whitney Corp boosted its holdings in Polaris by 9.9% in the third quarter. Hancock Whitney Corp now owns 14,808 shares of the company's stock worth $1,233,000 after acquiring an additional 1,334 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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Polaris Stock Performance

NYSE:PII traded down $1.86 during mid-day trading on Friday, hitting $41.37. 900,054 shares of the company traded hands, compared to its average volume of 989,467. The stock's fifty day moving average price is $45.90 and its 200-day moving average price is $61.33. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris Inc. has a one year low of $39.29 and a one year high of $100.91. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54.

Polaris (NYSE:PII - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.48%. This is an increase from Polaris's previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. Polaris's dividend payout ratio (DPR) is presently 136.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PII shares. UBS Group reduced their price target on Polaris from $67.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Morgan Stanley restated an "equal weight" rating and set a $60.00 price objective (down from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. BMO Capital Markets dropped their target price on shares of Polaris from $60.00 to $50.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 29th. Truist Financial reduced their price target on shares of Polaris from $60.00 to $55.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $54.00 price objective on shares of Polaris in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $59.83.

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.