Nisa Investment Advisors LLC Lowers Stake in Polaris Inc. (NYSE:PII)

Nisa Investment Advisors LLC reduced its position in shares of Polaris Inc. (NYSE:PII) by 44.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,156 shares of the company’s stock after selling 8,759 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Polaris were worth $457,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PII. RWWM Inc. boosted its stake in shares of Polaris by 169.2% during the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company’s stock worth $98,053,000 after acquiring an additional 1,505,351 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Polaris by 132.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company’s stock worth $51,909,000 after purchasing an additional 513,542 shares during the last quarter. Norges Bank acquired a new position in shares of Polaris during the 4th quarter worth about $24,659,000. Capital World Investors raised its position in shares of Polaris by 6.7% during the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock worth $354,725,000 after purchasing an additional 388,050 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Polaris during the 4th quarter worth about $21,776,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. Royal Bank Of Canada cut their price objective on shares of 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 cut their price objective on shares of Polaris from $55.00 to $30.00 and set a “hold” rating for the company in a report on Monday, April 14th. Baird R W downgraded shares of Polaris from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Roth Capital reiterated a “neutral” rating on shares of Polaris in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.00.

Polaris Stock Down 0.9%

Shares of NYSE:PII opened at $46.85 on Thursday. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 65.07 and a beta of 1.05. The firm’s 50-day simple moving average is $41.57 and its 200-day simple moving average is $43.23. The company has a quick ratio of 0.37, a current ratio of 1.12 and a debt-to-equity ratio of 1.32. Polaris Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $88.00.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.01. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Polaris had a net margin of 0.58% and a return on equity of 9.26%. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, equities research analysts predict that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Monday, June 2nd. Polaris’s dividend payout ratio is currently 372.22%.

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.