Polaris Inc. (NYSE:PII – Get Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Shareholders of record on Wednesday, June 1st will be paid a dividend of 0.64 per share on Wednesday, June 15th. This represents a $2.56 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, May 31st.
Polaris has increased its dividend payment by an average of 1.6% per year over the last three years and has increased its dividend every year for the last 28 years. Polaris has a dividend payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Polaris to earn $11.02 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 23.2%.
Shares of NYSE PII opened at $94.94 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.41 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 13.76 and a beta of 1.63. Polaris has a 12 month low of $94.56 and a 12 month high of $145.79. The stock has a 50-day moving average price of $108.67 and a two-hundred day moving average price of $113.79.
Several research firms have recently issued reports on PII. StockNews.com initiated coverage on shares of Polaris in a research note on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird reduced their price objective on shares of Polaris from $150.00 to $135.00 in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of Polaris from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 26th. Royal Bank of Canada reduced their price objective on shares of Polaris from $132.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 26th. Finally, BMO Capital Markets dropped their target price on shares of Polaris from $165.00 to $138.00 in a report on Wednesday. Three research analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $130.08.
In other news, SVP Dougherty Lucy Clark sold 4,257 shares of the company’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $125.00, for a total transaction of $532,125.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in Polaris by 0.6% in the 4th quarter. BlackRock Inc. now owns 4,790,490 shares of the company’s stock worth $526,522,000 after purchasing an additional 30,039 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in Polaris in the 4th quarter worth about $3,632,000. NewEdge Advisors LLC grew its position in Polaris by 2.8% in the 4th quarter. NewEdge Advisors LLC now owns 5,380 shares of the company’s stock worth $591,000 after purchasing an additional 146 shares in the last quarter. Zullo Investment Group Inc. bought a new stake in Polaris in the 4th quarter worth about $64,000. Finally, Neo Ivy Capital Management bought a new stake in Polaris in the 4th quarter worth about $29,000. 85.77% of the stock is owned by institutional investors and hedge funds.
About Polaris (Get Rating)
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through six segments: ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
- Get a free copy of the StockNews.com research report on Polaris (PII)
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