Fifth Third Bancorp Grows Stock Position in Polaris Inc. $PII

Key Points

• Fifth Third Bancorp increased its Polaris stake by 1,201.4% during the first quarter, ending with 15,018 shares valued at approximately $818,000. Institutional investors collectively own 88.06% of Polaris.
• Polaris reported quarterly revenue of $1.66 billion, up 8% year over year, and EPS of $0.13, exceeding analysts’ expectations. The company continues to forecast $1.76 in full-year EPS.
• Polaris pays a quarterly dividend of $0.68, equivalent to a 3.6% annualized yield. Despite recent analyst target increases, the stock maintains a consensus “Hold” rating with an average target price of $65.

Fifth Third Bancorp boosted its stake in shares of Polaris Inc. (NYSE:PII - Free Report) by 1,201.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,018 shares of the company's stock after acquiring an additional 13,864 shares during the quarter. Fifth Third Bancorp's holdings in Polaris were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PII. Ritholtz Wealth Management purchased a new stake in shares of Polaris during the fourth quarter valued at approximately $1,172,000. Jefferies Financial Group Inc. purchased a new position in shares of Polaris in the fourth quarter worth $10,778,000. Strs Ohio raised its holdings in Polaris by 17,000.0% during the 4th quarter. Strs Ohio now owns 51,300 shares of the company's stock valued at $3,245,000 after buying an additional 51,000 shares during the last quarter. Comerica Bank raised its holdings in Polaris by 173.4% during the 4th quarter. Comerica Bank now owns 41,939 shares of the company's stock valued at $2,653,000 after buying an additional 26,601 shares during the last quarter. Finally, Auto Owners Insurance Co boosted its position in Polaris by 6,225.0% during the 4th quarter. Auto Owners Insurance Co now owns 65,463,750 shares of the company's stock valued at $4,140,582,000 after buying an additional 64,428,750 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Polaris Stock Up 2.2%

Shares of Polaris stock opened at $74.68 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.48 and a debt-to-equity ratio of 2.72. Polaris Inc. has a 12-month low of $47.14 and a 12-month high of $75.92. The company has a market cap of $4.25 billion, a P/E ratio of -9.53 and a beta of 1.25. The company's fifty day simple moving average is $68.87 and its two-hundred day simple moving average is $64.27.

Polaris (NYSE:PII - Get Free Report) last posted its earnings results on Monday, April 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.43) by $0.56. Polaris had a negative net margin of 6.13% and a positive return on equity of 5.91%. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the company posted ($0.90) EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts anticipate that Polaris Inc. will post 1.76 EPS for the current year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.68 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.72 annualized dividend and a dividend yield of 3.6%. Polaris's dividend payout ratio is currently -34.69%.

Wall Street Analysts Forecast Growth

PII has been the topic of a number of analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of Polaris in a research report on Tuesday, July 7th. Roth Capital reiterated a "neutral" rating on shares of Polaris in a report on Wednesday, April 29th. Morgan Stanley cut their target price on Polaris from $74.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 19th. Robert W. Baird boosted their price target on Polaris from $67.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Finally, Citigroup upped their price target on Polaris from $58.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Polaris presently has an average rating of "Hold" and an average target price of $65.00.

Polaris Company Profile

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company's legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.

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