State of Michigan Retirement System Sells 300 Shares of Polaris Inc. (NYSE:PII)

State of Michigan Retirement System lowered its position in Polaris Inc. (NYSE:PII) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,779 shares of the company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Polaris were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. New England Capital Financial Advisors LLC bought a new stake in Polaris in the first quarter worth about $25,000. Creekmur Asset Management LLC bought a new stake in shares of Polaris during the fourth quarter valued at approximately $27,000. Verity & Verity LLC bought a new stake in shares of Polaris during the first quarter valued at approximately $37,000. Bessemer Group Inc. raised its stake in shares of Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after acquiring an additional 235 shares in the last quarter. Finally, First United Bank & Trust bought a new stake in shares of Polaris during the fourth quarter valued at approximately $40,000. Institutional investors own 88.06% of the company’s stock.

Polaris Stock Performance

Shares of NYSE:PII opened at $84.65 on Friday. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 7.71 and a beta of 1.53. Polaris Inc. has a 52 week low of $71.90 and a 52 week high of $114.24. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56. The firm has a 50 day moving average of $80.43 and a 200 day moving average of $85.34.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the firm posted $2.42 earnings per share. Polaris’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, sell-side analysts predict that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, September 3rd. Polaris’s dividend payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Roth Mkm decreased their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada decreased their price target on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 24th. KeyCorp decreased their price target on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Citigroup decreased their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.18.

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.