Raymond James Financial Inc. Buys Shares of 377,919 Polaris Inc. (NYSE:PII)

Raymond James Financial Inc. purchased a new position in shares of Polaris Inc. (NYSE:PII - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 377,919 shares of the company's stock, valued at approximately $21,776,000. Raymond James Financial Inc. owned 0.68% of Polaris at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its position in shares of Polaris by 371.7% in the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company's stock worth $1,669,000 after buying an additional 22,835 shares during the period. Bank of New York Mellon Corp grew its position in Polaris by 45.3% in the fourth quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company's stock valued at $44,740,000 after acquiring an additional 241,926 shares in the last quarter. Angeles Wealth Management LLC purchased a new stake in shares of Polaris during the fourth quarter valued at approximately $1,318,000. Aigen Investment Management LP purchased a new position in shares of Polaris in the fourth quarter valued at $839,000. Finally, Caprock Group LLC grew its holdings in Polaris by 174.4% during the 4th quarter. Caprock Group LLC now owns 10,531 shares of the company's stock valued at $607,000 after purchasing an additional 6,693 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PII shares. Robert W. Baird decreased their price objective on shares of Polaris from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Monday. Citigroup dropped their price objective on Polaris from $57.00 to $53.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Roth Mkm reduced their target price on Polaris from $76.00 to $57.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Truist Financial decreased 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, BMO Capital Markets reduced their price objective 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.50.

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Polaris Stock Performance

NYSE PII traded down $0.05 during trading hours on Wednesday, reaching $42.56. The company's stock had a trading volume of 812,255 shares, compared to its average volume of 1,743,984. 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 business has a 50-day simple moving average of $48.03 and a 200 day simple moving average of $63.37. Polaris Inc. has a 52 week low of $39.79 and a 52 week high of $100.91. The stock has a market cap of $2.39 billion, a PE ratio of 21.71, a PEG ratio of 13.95 and a beta of 1.54.

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 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%. Equities research analysts predict that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 6.30%. This is a positive change from Polaris's previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. Polaris's payout ratio is presently 136.73%.

About Polaris

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.