Federated Hermes Inc. Has $894,000 Stake in Polaris Inc. (NYSE:PII)

Federated Hermes Inc. decreased its position in shares of Polaris Inc. (NYSE:PIIGet Rating) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,342 shares of the company’s stock after selling 633 shares during the quarter. Federated Hermes Inc.’s holdings in Polaris were worth $894,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Standard Family Office LLC acquired a new position in Polaris during the 3rd quarter worth about $26,000. Quadrant Capital Group LLC lifted its stake in shares of Polaris by 47.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 306 shares of the company’s stock valued at $30,000 after purchasing an additional 99 shares during the period. Private Trust Co. NA acquired a new position in shares of Polaris in the 2nd quarter valued at about $37,000. Spire Wealth Management lifted its stake in shares of Polaris by 137.6% in the 3rd quarter. Spire Wealth Management now owns 430 shares of the company’s stock valued at $41,000 after purchasing an additional 249 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Polaris in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Polaris Trading Down 0.5 %

NYSE:PII opened at $110.95 on Tuesday. The company has a market cap of $6.33 billion, a P/E ratio of 14.79 and a beta of 1.61. The stock’s fifty day moving average price is $111.42 and its two-hundred day moving average price is $107.68. Polaris Inc. has a 1 year low of $91.86 and a 1 year high of $123.87. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.19 and a quick ratio of 0.37.

Polaris (NYSE:PIIGet Rating) last released its quarterly earnings results on Tuesday, January 31st. The company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.18. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Polaris had a net margin of 5.10% and a return on equity of 57.76%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. As a group, analysts expect that Polaris Inc. will post 10.24 EPS for the current year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be issued a $0.65 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $2.60 annualized dividend and a dividend yield of 2.34%. This is a boost from Polaris’s previous quarterly dividend of $0.64. Polaris’s dividend payout ratio is presently 34.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group boosted their target price on Polaris from $100.00 to $106.00 in a research report on Monday, December 5th. Citigroup boosted their target price on Polaris from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. StockNews.com raised Polaris from a “hold” rating to a “buy” rating in a research report on Saturday, February 4th. MKM Partners began coverage on Polaris in a research report on Tuesday, November 29th. They issued a “neutral” rating and a $117.00 target price for the company. Finally, Robert W. Baird boosted their price objective on Polaris from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Polaris currently has an average rating of “Hold” and an average target price of $113.56.

Insider Transactions at Polaris

In related news, SVP Dougherty Lucy Clark sold 10,626 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $115.00, for a total value of $1,221,990.00. Following the transaction, the senior vice president now owns 12,282 shares of the company’s stock, valued at $1,412,430. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Polaris Company Profile

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Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments: Off-Road, On-Road, and Marine. The Off-Road segment includes ORVs and snowmobile. The On Road segment involves the design and manufacture of motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.

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Institutional Ownership by Quarter for Polaris (NYSE:PII)

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