Mackenzie Financial Corp bought a new position in shares of Polaris Inc. (NYSE:PII – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,622 shares of the company’s stock, valued at approximately $320,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vigilant Capital Management LLC bought a new position in shares of Polaris in the first quarter valued at $28,000. Money Concepts Capital Corp lifted its stake in shares of Polaris by 89.1% in the fourth quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock valued at $32,000 after buying an additional 147 shares in the last quarter. Ten Capital Wealth Advisors LLC bought a new position in shares of Polaris in the first quarter valued at $46,000. Brown Brothers Harriman & Co. bought a new position in shares of Polaris in the first quarter valued at $47,000. Finally, Orion Capital Management LLC bought a new position in shares of Polaris in the first quarter valued at $49,000. 87.36% of the stock is owned by institutional investors.
Polaris Stock Performance
NYSE PII opened at $89.51 on Thursday. Polaris Inc. has a 52-week low of $84.15 and a 52-week high of $138.49. The company has a 50-day simple moving average of $99.35 and a 200 day simple moving average of $111.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.41 and a current ratio of 1.25. The company has a market capitalization of $5.05 billion, a PE ratio of 8.75 and a beta of 1.69.
Polaris Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.60 dividend on an annualized basis and a yield of 2.90%. Polaris’s dividend payout ratio is presently 25.42%.
Analyst Upgrades and Downgrades
PII has been the topic of a number of recent research reports. Raymond James lowered shares of Polaris from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, July 18th. StockNews.com started coverage on shares of Polaris in a report on Thursday, October 5th. They issued a “hold” rating for the company. BMO Capital Markets increased their target price on shares of Polaris from $110.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, July 26th. KeyCorp lowered their target price on shares of Polaris from $145.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Finally, Morgan Stanley lowered their target price on shares of Polaris from $120.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, October 25th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $111.77.
Polaris Company Profile
Polaris Inc designs, engineers, manufactures, and markets powersports 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; military and commercial ORVs; snowmobiles; motorcycles; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.
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