M&T Bank Corp Invests $321,000 in Polaris Inc. (NYSE:PII)

M&T Bank Corp purchased a new stake in shares of Polaris Inc. (NYSE:PII) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,840 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds have also recently modified their holdings of PII. TD Waterhouse Canada Inc. raised its holdings in shares of Polaris by 1.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 22,484 shares of the company’s stock valued at $1,295,000 after acquiring an additional 241 shares during the last quarter. Xponance Inc. boosted its holdings in Polaris by 5.1% in the fourth quarter. Xponance Inc. now owns 5,956 shares of the company’s stock valued at $343,000 after purchasing an additional 288 shares during the period. Fifth Third Bancorp lifted its holdings in Polaris by 46.9% during the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company’s stock worth $41,000 after buying an additional 318 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Polaris by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,904 shares of the company’s stock worth $1,435,000 after buying an additional 341 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Polaris by 1.3% during the fourth quarter. Advisory Services Network LLC now owns 30,833 shares of the company’s stock worth $1,777,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PII. Royal Bank Of Canada dropped their price target on Polaris from $54.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird upped their price target on Polaris from $38.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Wall Street Zen cut Polaris from a “hold” rating to a “sell” rating in a report on Thursday, May 8th. Truist Financial dropped their price objective on Polaris from $55.00 to $30.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley lowered their price target on Polaris from $31.00 to $29.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. 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’s stock. According to data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average target price of $46.00.

Polaris Trading Up 0.2%

Polaris stock opened at $47.00 on Friday. Polaris Inc. has a 1 year low of $30.92 and a 1 year high of $88.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.37 and a current ratio of 1.12. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 65.28 and a beta of 1.05. The firm’s 50 day moving average price is $41.80 and its two-hundred day moving average price is $43.16.

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

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.68 annualized dividend and a yield of 5.70%. Polaris’s payout ratio is currently 372.22%.

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.