Confluence Investment Management LLC Sells 95,371 Shares of Polaris Inc. (NYSE:PII)

Confluence Investment Management LLC trimmed its holdings in shares of Polaris Inc. (NYSE:PII - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 922,933 shares of the company's stock after selling 95,371 shares during the quarter. Confluence Investment Management LLC owned about 1.65% of Polaris worth $37,785,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in Polaris by 386.5% during the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company's stock worth $29,000 after buying an additional 402 shares in the last quarter. Twin Tree Management LP bought a new stake in Polaris during the fourth quarter worth about $29,000. Lindbrook Capital LLC lifted its stake in Polaris by 295.4% during the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company's stock worth $30,000 after purchasing an additional 387 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Polaris by 191.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company's stock worth $50,000 after purchasing an additional 797 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Polaris by 82.6% during the fourth quarter. Signaturefd LLC now owns 1,017 shares of the company's stock worth $59,000 after purchasing an additional 460 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Stock Down 2.3%

Shares of PII stock traded down $0.91 during midday trading on Monday, reaching $37.65. 615,566 shares of the stock were exchanged, compared to its average volume of 1,191,713. Polaris Inc. has a 1 year low of $30.92 and a 1 year high of $88.00. The company's 50 day moving average is $36.62 and its two-hundred day moving average is $47.72. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.12 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 13.95 and a beta of 1.05.

Polaris (NYSE:PII - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, topping analysts' consensus estimates of ($0.91) by $0.01. Polaris had a return on equity of 13.78% and a net margin of 1.54%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business earned $0.23 EPS. The business's revenue for the quarter was down 11.6% on a year-over-year basis. On average, equities research analysts predict that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.67 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.12%. Polaris's dividend payout ratio is currently 372.22%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Roth Capital reaffirmed a "neutral" rating on shares of Polaris in a research note on Tuesday, April 22nd. Royal Bank of Canada dropped their price target on Polaris from $54.00 to $34.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 30th. Citigroup lowered Polaris from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $49.00 to $33.00 in a research note on Thursday, March 20th. Bank of America dropped their price target on Polaris from $55.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, Truist Financial lowered their target price on Polaris from $55.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $45.82.

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.