Polaris Inc. (NYSE:PII) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in Polaris Inc. (NYSE:PII) by 10.4% during the 4th quarter, Holdings Channel reports. The fund owned 38,995 shares of the company’s stock after selling 4,549 shares during the period. New York State Common Retirement Fund’s holdings in Polaris were worth $3,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in Polaris in the 4th quarter valued at about $31,000. Larson Financial Group LLC grew its position in Polaris by 536.5% in the third quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock valued at $42,000 after acquiring an additional 338 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Polaris in the third quarter worth about $46,000. Concord Wealth Partners acquired a new stake in shares of Polaris during the third quarter worth approximately $66,000. Finally, Blue Trust Inc. grew its stake in Polaris by 1,286.0% in the fourth quarter. Blue Trust Inc. now owns 693 shares of the company’s stock worth $72,000 after purchasing an additional 643 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Stock Up 0.2 %

PII stock opened at $83.92 on Monday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 2.44 and a beta of 1.61. The company has a 50-day moving average of $91.61 and a two-hundred day moving average of $90.85. Polaris Inc. has a 52-week low of $82.00 and a 52-week high of $138.49. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.42.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.17. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 EPS. As a group, equities research analysts anticipate that Polaris Inc. will post 8.01 EPS for the current 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 given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, June 3rd. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PII. BMO Capital Markets lowered their price objective on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday, January 31st. Morgan Stanley raised Polaris from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. Bank of America began coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 target price for the company. DA Davidson restated a “neutral” rating and set a $80.00 price objective on shares of Polaris in a report on Tuesday, March 5th. Finally, Robert W. Baird decreased their target price on Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.27.

Polaris Company 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.