ARGA Investment Management LP Has $1.53 Million Stake in Polaris Inc. $PII

ARGA Investment Management LP cut its stake in shares of Polaris Inc. (NYSE:PII) by 32.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,346 shares of the company’s stock after selling 12,857 shares during the quarter. ARGA Investment Management LP’s holdings in Polaris were worth $1,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Polaris by 677.2% in the first quarter. Goldman Sachs Group Inc. now owns 544,295 shares of the company’s stock worth $22,283,000 after acquiring an additional 474,259 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Polaris by 27.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,289 shares of the company’s stock worth $7,504,000 after purchasing an additional 39,584 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Polaris by 471.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 59,566 shares of the company’s stock valued at $2,421,000 after purchasing an additional 49,143 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Polaris during the second quarter worth $640,000. Finally, UMB Bank n.a. increased its position in shares of Polaris by 79.0% during the second quarter. UMB Bank n.a. now owns 1,441 shares of the company’s stock worth $59,000 after buying an additional 636 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Buying and Selling at Polaris

In related news, SVP James P. Williams sold 4,554 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $67.53, for a total transaction of $307,531.62. Following the transaction, the senior vice president directly owned 43,878 shares in the company, valued at approximately $2,963,081.34. The trade was a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.12% of the stock is owned by insiders.

Polaris Stock Down 2.6%

PII stock opened at $69.07 on Friday. The firm has a market capitalization of $3.88 billion, a PE ratio of -26.06, a P/E/G ratio of 2.32 and a beta of 1.14. The company has a quick ratio of 0.36, a current ratio of 1.02 and a debt-to-equity ratio of 1.13. Polaris Inc. has a twelve month low of $30.92 and a twelve month high of $75.25. The stock’s 50 day moving average is $67.32 and its 200-day moving average is $61.46.

Polaris (NYSE:PII) last announced its quarterly earnings results on Monday, October 27th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Polaris had a positive return on equity of 3.89% and a negative net margin of 2.17%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. Polaris’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.67 dividend. The ex-dividend date was Monday, December 1st. This represents a $2.68 annualized dividend and a dividend yield of 3.9%. Polaris’s dividend payout ratio is currently -101.13%.

Analyst Ratings Changes

A number of brokerages have commented on PII. BMO Capital Markets reaffirmed a “market perform” rating and set a $70.00 price target on shares of Polaris in a research report on Wednesday, October 29th. Weiss Ratings upgraded Polaris from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Robert W. Baird raised their target price on Polaris from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Seaport Research Partners raised Polaris to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Roth Mkm raised their price objective on shares of Polaris from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Polaris presently has an average rating of “Hold” and an average target price of $59.82.

Polaris Company Profile

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.