Angeles Wealth Management LLC Buys 22,804 Shares of Polaris Inc. (NYSE:PII)

Key Points

• Angeles Wealth Management LLC significantly increased its holdings in Polaris Inc. by purchasing 22,804 shares, bringing its total ownership to approximately 45,679 shares valued at $1.87 million.
• Polaris recently reported a quarterly earnings per share (EPS) of ($0.90), slightly beating analyst expectations of ($0.91), but showed an 11.6% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.67 per share, representing a significant 5.34% yield with a payout ratio of 372.22%.

Angeles Wealth Management LLC increased its position in shares of Polaris Inc. (NYSE:PII - Free Report) by 99.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,679 shares of the company's stock after buying an additional 22,804 shares during the quarter. Angeles Wealth Management LLC owned 0.08% of Polaris worth $1,870,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. HighTower Advisors LLC boosted its position in Polaris by 20.4% during the fourth quarter. HighTower Advisors LLC now owns 5,238 shares of the company's stock valued at $302,000 after purchasing an additional 888 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Polaris by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,904 shares of the company's stock worth $1,435,000 after acquiring an additional 341 shares during the period. Xponance Inc. increased its stake in Polaris by 5.1% during the 4th quarter. Xponance Inc. now owns 5,956 shares of the company's stock worth $343,000 after acquiring an additional 288 shares during the period. Sei Investments Co. increased its stake in Polaris by 52.2% during the 4th quarter. Sei Investments Co. now owns 13,690 shares of the company's stock worth $789,000 after acquiring an additional 4,694 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Polaris during the 4th quarter worth $611,000. 88.06% of the stock is currently owned by institutional investors.

Polaris Stock Down 5.4%

PII traded down $3.15 during midday trading on Wednesday, reaching $54.67. 934,152 shares of the company were exchanged, compared to its average volume of 1,735,888. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.37 and a current ratio of 1.12. The company's fifty day moving average price is $43.41 and its 200 day moving average price is $42.63. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 76.16 and a beta of 1.05. Polaris Inc. has a one year low of $30.92 and a one year high of $87.83.

Polaris (NYSE:PII - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 9.26% and a net margin of 0.58%. Polaris's quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. As a group, analysts expect that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Monday, June 2nd. Polaris's dividend payout ratio is currently 372.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PII. Citigroup reiterated a "sell" rating and issued a $27.00 price target (up previously from $23.00) on shares of Polaris in a research note on Monday, June 16th. Truist Financial cut their target price on Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada lifted their target price on Polaris from $34.00 to $56.00 and gave the stock a "sector perform" rating in a report on Wednesday. BMO Capital Markets boosted their price objective on Polaris from $33.00 to $52.00 and gave the company a "market perform" rating in a research note on Wednesday. Finally, Roth Capital boosted their price objective on Polaris from $32.00 to $41.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $48.33.

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.