Connor Clark & Lunn Investment Management Ltd. Has $16.60 Million Stock Position in Polaris Inc. (NYSE:PII)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Polaris Inc. by 150.6%, acquiring an additional 243,595 shares to own a total of 405,391 shares valued at approximately $16.6 million.
• Polaris recently reported earnings with a $0.40 EPS, significantly exceeding analysts' expectations of $0.05, although its revenue decreased by 5.5% year-over-year to $1.85 billion.
• The company declared a quarterly dividend of $0.67 per share, translating to an annualized rate of $2.68 and a dividend yield of 5.2%, with a negative payout ratio of -142.55%.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Polaris Inc. (NYSE:PII - Free Report) by 150.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 405,391 shares of the company's stock after purchasing an additional 243,595 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.72% of Polaris worth $16,597,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its stake in Polaris by 114.1% in the first quarter. UMB Bank n.a. now owns 805 shares of the company's stock valued at $33,000 after purchasing an additional 429 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Polaris during the 1st quarter worth about $35,000. Fifth Third Bancorp boosted its stake in shares of Polaris by 46.9% during the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company's stock worth $41,000 after acquiring an additional 318 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Polaris by 191.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company's stock worth $50,000 after acquiring an additional 797 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Polaris by 7,462.5% during the 1st quarter. Allworth Financial LP now owns 1,210 shares of the company's stock worth $50,000 after acquiring an additional 1,194 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Polaris Stock Performance

Shares of NYSE PII traded up $3.03 during trading hours on Tuesday, hitting $55.26. 1,029,977 shares of the company's stock were exchanged, compared to its average volume of 1,681,977. The company's 50-day moving average price is $46.38 and its 200-day moving average price is $42.53. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.04 and a quick ratio of 0.37. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -29.39 and a beta of 1.04. Polaris Inc. has a 1-year low of $30.92 and a 1-year high of $87.83.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.05 by $0.35. The firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.73 billion. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 EPS. On average, sell-side analysts expect that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.68 annualized dividend and a yield of 4.8%. Polaris's dividend payout ratio is -142.55%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Roth Capital upped their price target on Polaris from $32.00 to $41.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial decreased their price target on Polaris from $55.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded Polaris from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Robert W. Baird upped their price target on Polaris from $46.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on Polaris from $34.00 to $56.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. One equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.