Bank of New York Mellon Corp Decreases Holdings in Polaris Inc. (NYSE:PII)

Bank of New York Mellon Corp decreased its position in Polaris Inc. (NYSE:PII) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 760,092 shares of the company’s stock after selling 16,381 shares during the quarter. Bank of New York Mellon Corp owned 1.35% of Polaris worth $31,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Twin Tree Management LP bought a new position in shares of Polaris during the fourth quarter valued at $29,000. UMB Bank n.a. boosted its stake in Polaris by 114.1% during the first quarter. UMB Bank n.a. now owns 805 shares of the company’s stock valued at $33,000 after buying an additional 429 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Polaris in the 1st quarter valued at approximately $35,000. Fifth Third Bancorp lifted its stake in shares of Polaris by 46.9% during the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company’s stock worth $41,000 after acquiring an additional 318 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Polaris by 191.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company’s stock worth $50,000 after purchasing an additional 797 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Stock Down 1.8%

Polaris stock opened at $47.27 on Wednesday. Polaris Inc. has a 1-year low of $30.92 and a 1-year high of $88.00. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 65.65 and a beta of 1.05. The firm’s fifty day moving average price is $41.31 and its two-hundred day moving average price is $43.20. The company has a current ratio of 1.12, a quick ratio of 0.37 and a debt-to-equity ratio of 1.32.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.01. Polaris had a net margin of 0.58% and a return on equity of 9.26%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s revenue was down 11.6% on a year-over-year basis. On average, equities research analysts predict that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend was Monday, June 2nd. Polaris’s dividend payout ratio (DPR) is presently 372.22%.

Analysts Set New Price Targets

PII has been the subject of several analyst reports. Royal Bank Of Canada decreased their price objective on Polaris from $54.00 to $34.00 and set a “sector perform” rating for the company in a report on Wednesday, April 30th. Truist Financial dropped their target price on Polaris from $55.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Citigroup reiterated a “sell” rating and set a $27.00 target price (up previously from $23.00) on shares of Polaris in a research note on Monday, June 16th. Roth Capital reiterated a “neutral” rating on shares of Polaris in a research report on Tuesday, April 22nd. Finally, Robert W. Baird lifted their price objective on Polaris from $38.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Polaris presently has a consensus rating of “Hold” and an average price target of $46.00.

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.