Davis R M Inc. Decreases Stock Position in Polaris Inc. (NYSE:PII)

Davis R M Inc. reduced its holdings in shares of Polaris Inc. (NYSE:PII) by 43.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,465 shares of the company’s stock after selling 16,638 shares during the quarter. Davis R M Inc.’s holdings in Polaris were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board boosted its stake in shares of Polaris by 141.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 46,276 shares of the company’s stock valued at $4,633,000 after acquiring an additional 27,139 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Polaris by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after buying an additional 94,680 shares during the last quarter. Pinkerton Retirement Specialists LLC lifted its stake in shares of Polaris by 1.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 18,970 shares of the company’s stock valued at $1,899,000 after buying an additional 290 shares during the period. Lindenwold Advisors INC acquired a new position in Polaris in the 1st quarter valued at $306,000. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in Polaris by 19.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 15,933 shares of the company’s stock valued at $1,595,000 after acquiring an additional 2,573 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Stock Performance

Shares of NYSE:PII traded down $3.07 on Tuesday, reaching $79.07. 2,713,726 shares of the company’s stock were exchanged, compared to its average volume of 758,493. The business’s 50-day moving average is $79.92 and its two-hundred day moving average is $87.09. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. Polaris Inc. has a fifty-two week low of $73.26 and a fifty-two week high of $138.49. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.65 and a beta of 1.53.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, equities research analysts forecast that Polaris Inc. will post 7.51 EPS for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.66 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.34%. Polaris’s payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

PII has been the topic of several recent analyst reports. Bank of America assumed coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price objective on the stock. Robert W. Baird dropped their price objective on Polaris from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, July 3rd. DA Davidson reduced their target price on Polaris from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Longbow Research upgraded Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Monday, April 8th. Finally, Truist Financial reduced their price objective on Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.55.

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.