New York State Teachers Retirement System Increases Holdings in Polaris Inc. (NYSE:PII)

New York State Teachers Retirement System raised its stake in Polaris Inc. (NYSE:PII) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,672 shares of the company’s stock after buying an additional 540 shares during the quarter. New York State Teachers Retirement System’s holdings in Polaris were worth $6,413,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in shares of Polaris by 33.2% during the 1st quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock valued at $389,534,000 after acquiring an additional 922,101 shares during the last quarter. Millennium Management LLC boosted its holdings in Polaris by 1,473.6% in the 4th quarter. Millennium Management LLC now owns 661,440 shares of the company’s stock valued at $66,805,000 after purchasing an additional 619,406 shares during the last quarter. State Street Corp boosted its holdings in Polaris by 14.8% in the 1st quarter. State Street Corp now owns 4,136,582 shares of the company’s stock valued at $435,665,000 after purchasing an additional 532,947 shares during the last quarter. Norges Bank acquired a new stake in shares of Polaris during the 4th quarter worth approximately $49,002,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Polaris by 276.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after buying an additional 266,887 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PII shares. Longbow Research upgraded Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Monday, April 8th. KeyCorp lowered their price target on Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, January 12th. DA Davidson restated a “neutral” rating and issued a $80.00 price objective on shares of Polaris in a report on Tuesday, March 5th. Royal Bank of Canada increased their target price on shares of Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Finally, Bank of America began coverage on shares of Polaris in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Polaris has a consensus rating of “Hold” and a consensus target price of $104.73.

Polaris Price Performance

Shares of PII opened at $90.55 on Friday. The company has a market cap of $5.11 billion, a P/E ratio of 10.41, a PEG ratio of 2.52 and a beta of 1.60. Polaris Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $138.49. The company has a quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average price is $93.24 and its 200 day moving average price is $92.38.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.46 EPS. On average, research analysts forecast that Polaris Inc. will post 7.95 earnings per share for the current fiscal year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio (DPR) is presently 30.34%.

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.