Teacher Retirement System of Texas Buys New Shares in Polaris Inc. (NYSE:PII)

Teacher Retirement System of Texas bought a new stake in Polaris Inc. (NYSE:PII) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,746 shares of the company’s stock, valued at approximately $317,000.

A number of other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in Polaris in the first quarter valued at $283,000. Cambridge Investment Research Advisors Inc. grew its position in Polaris by 2.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,234 shares of the company’s stock valued at $583,000 after purchasing an additional 396 shares in the last quarter. State of Alaska Department of Revenue grew its position in Polaris by 51.8% in the first quarter. State of Alaska Department of Revenue now owns 43,977 shares of the company’s stock valued at $1,800,000 after purchasing an additional 14,998 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its position in shares of Polaris by 41.6% in the 1st quarter. Robertson Stephens Wealth Management LLC now owns 12,038 shares of the company’s stock valued at $493,000 after acquiring an additional 3,538 shares during the period. Finally, RWWM Inc. grew its position in shares of Polaris by 169.2% in the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company’s stock valued at $98,053,000 after acquiring an additional 1,505,351 shares during the period. Institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PII. Baird R W downgraded shares of Polaris from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Royal Bank Of Canada decreased their price objective on shares of Polaris from $54.00 to $34.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 30th. Robert W. Baird lifted their price objective on shares of Polaris from $38.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Citigroup reissued a “sell” rating and issued a $27.00 price objective (up previously from $23.00) on shares of Polaris in a research report on Monday, June 16th. Finally, Truist Financial reduced their target price 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. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Polaris has an average rating of “Hold” and an average target price of $46.00.

Polaris Price Performance

Shares of Polaris stock opened at $46.80 on Friday. Polaris Inc. has a twelve month low of $30.92 and a twelve month high of $87.83. The company has a quick ratio of 0.37, a current ratio of 1.12 and a debt-to-equity ratio of 1.32. The company has a 50-day simple moving average of $42.01 and a two-hundred day simple moving average of $43.08. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 65.00 and a beta of 1.05.

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

Polaris Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 5.73%. The ex-dividend date was Monday, June 2nd. Polaris’s dividend payout ratio (DPR) is presently 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.