Retirement Systems of Alabama Lowers Stake in Polaris Inc. (NYSE:PII)

Retirement Systems of Alabama trimmed its stake in Polaris Inc. (NYSE:PII - Free Report) by 54.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,658 shares of the company's stock after selling 75,174 shares during the period. Retirement Systems of Alabama owned approximately 0.11% of Polaris worth $5,299,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company's stock valued at $29,000 after acquiring an additional 294 shares during the period. Quarry LP raised its position in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company's stock valued at $32,000 after purchasing an additional 253 shares during the last quarter. Blue Trust Inc. boosted its stake in Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company's stock worth $32,000 after purchasing an additional 389 shares during the period. Signaturefd LLC grew its position in Polaris by 1,931.3% during the 2nd quarter. Signaturefd LLC now owns 650 shares of the company's stock worth $51,000 after purchasing an additional 618 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in Polaris in the second quarter valued at $57,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Price Performance

PII traded down $1.25 during trading on Thursday, reaching $56.93. 955,226 shares of the stock were exchanged, compared to its average volume of 742,665. Polaris Inc. has a 1 year low of $56.85 and a 1 year high of $100.91. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 6.59 and a beta of 1.51. The business's 50 day moving average price is $69.44 and its two-hundred day moving average price is $76.74. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris's revenue was down 23.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, equities research analysts anticipate that Polaris Inc. will post 3.22 earnings per share for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.64 annualized dividend and a dividend yield of 4.64%. Polaris's dividend payout ratio is currently 73.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Polaris from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th. Royal Bank of Canada decreased their price objective on Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 23rd. DA Davidson cut their price target on Polaris from $87.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. KeyCorp decreased their price target on Polaris from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, Robert W. Baird lowered their price objective on Polaris from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Polaris has a consensus rating of "Hold" and a consensus price target of $87.09.

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.