State of Alaska Department of Revenue Has $543,000 Stock Position in Polaris Inc. (NYSE:PII)

State of Alaska Department of Revenue lessened its position in shares of Polaris Inc. (NYSE:PII) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,734 shares of the company’s stock after selling 600 shares during the quarter. State of Alaska Department of Revenue’s holdings in Polaris were worth $543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its stake in Polaris by 13.6% in the first quarter. D.A. Davidson & CO. now owns 2,510 shares of the company’s stock valued at $264,000 after acquiring an additional 301 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Polaris by 0.4% in the 1st quarter. Rhumbline Advisers now owns 152,648 shares of the company’s stock worth $16,077,000 after purchasing an additional 572 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Polaris by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,905 shares of the company’s stock worth $2,202,000 after purchasing an additional 1,993 shares during the period. BlackRock Inc. increased its holdings in Polaris by 0.3% in the first quarter. BlackRock Inc. now owns 4,803,771 shares of the company’s stock valued at $505,933,000 after purchasing an additional 13,281 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Polaris by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 33,033 shares of the company’s stock valued at $3,575,000 after buying an additional 2,692 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PII has been the subject of several analyst reports. DA Davidson restated a “neutral” rating and set a $80.00 target price on shares of Polaris in a research report on Tuesday, March 5th. Bank of America began coverage on shares of Polaris in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 target price for the company. Morgan Stanley upgraded shares of Polaris from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $113.00 in a report on Wednesday, January 17th. Truist Financial decreased their price target on shares of Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a report on Wednesday, January 31st. Finally, Royal Bank of Canada raised their price objective on Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Polaris currently has an average rating of “Hold” and an average target price of $104.73.

Polaris Price Performance

PII stock opened at $90.55 on Friday. The stock has a 50-day moving average price of $93.24 and a two-hundred day moving average price of $92.38. Polaris Inc. has a 1 year low of $82.00 and a 1 year high of $138.49. The stock has a market cap of $5.11 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. The company has a current ratio of 1.39, a quick ratio of 0.46 and a debt-to-equity ratio of 1.31.

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 the consensus estimate of $2.67 by ($0.69). Polaris had a return on equity of 40.98% and a net margin of 5.63%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the company earned $3.46 earnings per share. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. Equities analysts forecast that Polaris Inc. will post 7.95 EPS for the current fiscal year.

Polaris Increases Dividend

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

Polaris Profile

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.