M&T Bank Corp bought a new stake in Polaris Inc. (NYSE:PII – Get Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,317 shares of the company’s stock, valued at approximately $204,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC acquired a new position in shares of Polaris in the first quarter worth $27,000. CX Institutional acquired a new position in shares of Polaris during the second quarter worth $27,000. Brown Brothers Harriman & Co. acquired a new position in shares of Polaris during the first quarter worth $47,000. Signaturefd LLC lifted its position in Polaris by 60.9% in the first quarter. Signaturefd LLC now owns 637 shares of the company’s stock valued at $67,000 after acquiring an additional 241 shares during the last quarter. Finally, CWM LLC lifted its position in Polaris by 15.7% in the second quarter. CWM LLC now owns 802 shares of the company’s stock valued at $80,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on PII shares. Truist Financial reduced their price target on shares of Polaris from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Wednesday, October 5th. Raymond James reduced their price target on shares of Polaris from $137.00 to $123.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 26th. Citigroup cut shares of Polaris from a “buy” rating to a “neutral” rating and reduced their price target for the company from $131.00 to $101.00 in a research report on Wednesday, October 19th. BMO Capital Markets reduced their price target on shares of Polaris from $138.00 to $120.00 in a research report on Wednesday, October 26th. Finally, Robert W. Baird reduced their target price on shares of Polaris from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, October 6th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.44.
Polaris Price Performance
Polaris Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.64 per share. The ex-dividend date is Wednesday, November 30th. This represents a $2.56 annualized dividend and a yield of 2.36%. Polaris’s dividend payout ratio is currently 46.04%.
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. 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; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
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