Alberta Investment Management Corp Decreases Stock Holdings in Polaris Inc. (NYSE:PII)

Key Points

• Alberta Investment Management Corp reduced its holdings in Polaris Inc. by 55.1% in the first quarter, leaving them with 12,600 shares valued at $516,000.
• Polaris recently announced a quarterly dividend of $0.67 per share, which represents a yield of 5.3%, despite a negative payout ratio of -142.55%.
• The company's latest earnings report showed a profit of $0.40 EPS, significantly surpassing analysts' expectations of $0.05, even as year-over-year revenue declined by 5.5%.

Alberta Investment Management Corp cut its holdings in Polaris Inc. (NYSE:PII - Free Report) by 55.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,600 shares of the company's stock after selling 15,440 shares during the period. Alberta Investment Management Corp's holdings in Polaris were worth $516,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of Polaris by 114.1% in the first quarter. UMB Bank n.a. now owns 805 shares of the company's stock worth $33,000 after buying an additional 429 shares during the period. Opal Wealth Advisors LLC purchased a new position in Polaris in the 1st quarter worth approximately $35,000. Fifth Third Bancorp raised its holdings in Polaris by 46.9% during the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company's stock valued at $41,000 after buying an additional 318 shares during the last quarter. Allworth Financial LP raised its stake in shares of Polaris by 7,462.5% during the first quarter. Allworth Financial LP now owns 1,210 shares of the company's stock valued at $50,000 after acquiring an additional 1,194 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Polaris by 191.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company's stock worth $50,000 after buying an additional 797 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Stock Down 0.5%

Shares of PII stock traded down $0.25 during trading hours on Wednesday, hitting $52.67. 1,051,073 shares of the company's stock traded hands, compared to its average volume of 1,741,940. The company has a quick ratio of 0.37, a current ratio of 1.04 and a debt-to-equity ratio of 1.17. The stock's fifty day simple moving average is $45.05 and its two-hundred day simple moving average is $42.59. Polaris Inc. has a 12-month low of $30.92 and a 12-month high of $87.83. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -28.01 and a beta of 1.04.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.35. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.38 EPS. On average, analysts expect that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Polaris's dividend payout ratio is -142.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PII. Morgan Stanley dropped their price target on Polaris from $31.00 to $29.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Truist Financial dropped their target price on shares of Polaris from $55.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, April 14th. BMO Capital Markets reaffirmed a "market perform" rating and set a $52.00 target price (up previously from $33.00) on shares of Polaris in a research note on Wednesday, July 30th. Royal Bank Of Canada boosted their price target on shares of Polaris from $34.00 to $56.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird raised their price objective on shares of Polaris from $46.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.