Allspring Global Investments Holdings LLC Sells 375 Shares of Polaris Inc. (NYSE:PII)

Allspring Global Investments Holdings LLC decreased its stake in shares of Polaris Inc. (NYSE:PII) by 24.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,162 shares of the company’s stock after selling 375 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Polaris were worth $110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in Polaris by 8.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after acquiring an additional 202,794 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Polaris by 151.9% during the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock valued at $44,168,000 after purchasing an additional 255,777 shares in the last quarter. Northern Trust Corp grew its stake in Polaris by 1.4% in the third quarter. Northern Trust Corp now owns 406,947 shares of the company’s stock worth $42,379,000 after purchasing an additional 5,493 shares during the period. Brown Advisory Inc. raised its holdings in Polaris by 2.7% in the third quarter. Brown Advisory Inc. now owns 366,241 shares of the company’s stock worth $38,140,000 after purchasing an additional 9,514 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Polaris by 276.5% during the third 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. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America initiated coverage on shares of Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 target price on the stock. KeyCorp decreased their target price on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, January 12th. DA Davidson reissued a “neutral” rating and issued a $80.00 price target on shares of Polaris in a research report on Tuesday, March 5th. StockNews.com raised Polaris from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.27.

Polaris Stock Up 0.6 %

Polaris stock opened at $83.81 on Monday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.45 and a beta of 1.60. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. Polaris Inc. has a 12 month low of $82.00 and a 12 month high of $138.49. The stock has a fifty day simple moving average of $92.40 and a two-hundred day simple moving average of $91.30.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. Polaris’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. Equities analysts predict that Polaris Inc. will post 8 EPS for the current fiscal year.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Monday, June 3rd. Polaris’s dividend payout ratio is currently 38.71%.

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.