Auto Owners Insurance Co cut its position in shares of Polaris Inc. (NYSE:PII - Free Report) by 98.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,839 shares of the company's stock after selling 392,161 shares during the quarter. Auto Owners Insurance Co's holdings in Polaris were worth $321,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PII. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Polaris by 14.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 116,302 shares of the company's stock worth $6,701,000 after acquiring an additional 14,790 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Polaris during the 4th quarter worth $611,000. Nuance Investments LLC acquired a new stake in Polaris during the 4th quarter worth $6,304,000. FORA Capital LLC grew its holdings in Polaris by 521.5% during the 4th quarter. FORA Capital LLC now owns 17,285 shares of the company's stock worth $996,000 after acquiring an additional 14,504 shares during the period. Finally, Beutel Goodman & Co Ltd. grew its holdings in Polaris by 2.6% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,775,331 shares of the company's stock worth $159,914,000 after acquiring an additional 69,766 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.
Polaris Price Performance
Shares of NYSE:PII opened at $52.21 on Wednesday. The company's fifty day moving average price is $42.45 and its 200-day moving average price is $42.88. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 72.52 and a beta of 1.05. Polaris Inc. has a one year low of $30.92 and a one year high of $87.83. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.12 and a quick ratio of 0.37.
Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.91) by $0.01. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Polaris had a net margin of 0.58% and a return on equity of 9.26%. The company's revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. On average, equities research analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.
Polaris Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 5.13%. Polaris's dividend payout ratio is currently 372.22%.
Analyst Ratings Changes
A number of brokerages recently weighed in on PII. Royal Bank Of Canada reduced their target price on shares of Polaris from $54.00 to $34.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 30th. Truist Financial reduced their target price on shares of Polaris from $55.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Morgan Stanley reduced their target price on shares of Polaris from $31.00 to $29.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Citigroup reaffirmed a "sell" rating and issued a $27.00 target price (up from $23.00) on shares of Polaris in a research note on Monday, June 16th. Finally, Wall Street Zen lowered shares of Polaris from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $46.00.
Check Out Our Latest Stock Report on PII
About Polaris
(
Free Report)
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.
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