State of Alaska Department of Revenue Has $1.67 Million Holdings in Polaris Inc. (NYSE:PII)

State of Alaska Department of Revenue increased its stake in shares of Polaris Inc. (NYSE:PII - Free Report) by 371.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,979 shares of the company's stock after buying an additional 22,835 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of Polaris worth $1,669,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC grew its stake in shares of Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company's stock worth $29,000 after purchasing an additional 294 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company's stock worth $32,000 after purchasing an additional 389 shares in the last quarter. Quarry LP grew its stake 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 purchasing an additional 253 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Polaris by 232.6% in the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company's stock worth $56,000 after purchasing an additional 677 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Polaris by 19.9% in the third 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 in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PII shares. Robert W. Baird decreased their price target on Polaris from $84.00 to $72.00 and set an "outperform" rating for the company in a research note on Monday, December 30th. Citigroup decreased their target price on Polaris from $57.00 to $53.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Roth Mkm decreased 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 target price on Polaris from $60.00 to $55.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $60.00 target price (down previously from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $66.17.

Polaris Trading Up 1.5 %

Shares of NYSE PII traded up $0.68 during mid-day trading on Friday, hitting $45.08. 869,982 shares of the company traded hands, compared to its average volume of 2,099,572. Polaris Inc. has a 1 year low of $42.85 and a 1 year high of $100.91. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 13.80 and a beta of 1.50. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The business has a 50 day moving average of $54.52 and a two-hundred day moving average of $69.25.

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

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.67 dividend. This is an increase from Polaris's previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 5.94%. The ex-dividend date is Monday, March 3rd. Polaris's dividend payout ratio is currently 134.69%.

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.