Edgestream Partners L.P. Makes New Investment in Polaris Inc. (NYSE:PII)

Edgestream Partners L.P. purchased a new stake in shares of Polaris Inc. (NYSE:PII) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,032 shares of the company’s stock, valued at approximately $1,154,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue grew its position in Polaris by 371.7% during the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock valued at $1,669,000 after acquiring an additional 22,835 shares during the last quarter. Bank of New York Mellon Corp grew its position in Polaris by 45.3% during the fourth quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after acquiring an additional 241,926 shares during the last quarter. Angeles Wealth Management LLC bought a new position in Polaris during the fourth quarter valued at approximately $1,318,000. Aigen Investment Management LP bought a new position in Polaris during the fourth quarter valued at approximately $839,000. Finally, Caprock Group LLC grew its position in Polaris by 174.4% during the fourth quarter. Caprock Group LLC now owns 10,531 shares of the company’s stock valued at $607,000 after acquiring an additional 6,693 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Polaris Stock Performance

Shares of PII stock opened at $44.35 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 13.95 and a beta of 1.54. The stock has a fifty day moving average of $49.48 and a 200 day moving average of $64.84. Polaris Inc. has a 52 week low of $39.79 and a 52 week high of $100.91.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. As a group, research analysts expect that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.68 annualized dividend and a yield of 6.04%. This is a positive change from Polaris’s previous quarterly dividend of $0.66. Polaris’s dividend payout ratio (DPR) is currently 136.73%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial reduced their price target on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird cut their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. BMO Capital Markets cut their target price on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Finally, Roth Mkm cut their target price on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Polaris has a consensus rating of “Hold” and a consensus target price of $66.17.

Polaris 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.