US Bancorp DE Boosts Stock Position in Polaris Inc. (NYSE:PII)

US Bancorp DE grew its stake in shares of Polaris Inc. (NYSE:PII) by 70.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,021 shares of the company’s stock after buying an additional 4,548 shares during the period. US Bancorp DE’s holdings in Polaris were worth $451,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Polaris by 8.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 41,445 shares of the company’s stock worth $2,388,000 after purchasing an additional 3,210 shares in the last quarter. Cerity Partners LLC lifted its holdings in Polaris by 1.5% in the 4th quarter. Cerity Partners LLC now owns 42,176 shares of the company’s stock worth $2,430,000 after purchasing an additional 612 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Polaris by 231.3% in the 4th quarter. Renaissance Technologies LLC now owns 98,400 shares of the company’s stock worth $5,670,000 after purchasing an additional 68,700 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Polaris in the 4th quarter worth approximately $21,776,000. Finally, Sterling Capital Management LLC lifted its holdings in Polaris by 58.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,095 shares of the company’s stock worth $178,000 after purchasing an additional 1,139 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Price Performance

PII opened at $55.26 on Wednesday. Polaris Inc. has a 12-month low of $30.92 and a 12-month high of $87.83. The company has a current ratio of 1.04, a quick ratio of 0.37 and a debt-to-equity ratio of 1.17. The business’s fifty day simple moving average is $46.38 and its 200-day simple moving average is $42.53. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -29.39 and a beta of 1.04.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.35. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. On average, equities research analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 2nd. Polaris’s dividend payout ratio is -142.55%.

Wall Street Analyst Weigh In

PII has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Polaris from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Robert W. Baird boosted their price target on Polaris from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Wall Street Zen raised Polaris from a “strong sell” rating to a “hold” rating in a report on Saturday, August 2nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $52.00 price objective (up from $33.00) on shares of Polaris in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada upped their price objective on Polaris from $34.00 to $56.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.33.

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.