Polaris Inc. (NYSE:PII) Stock Position Increased by IFG Advisory LLC

Key Points

• IFG Advisory LLC increased its stake in Polaris Inc. by 18.9% in the 1st quarter, owning approximately 34,990 shares valued at $1.43 million.
• Polaris reported a quarterly earnings per share (EPS) of $0.40, significantly above the consensus estimate of $0.05, with a revenue of $1.85 billion.
• The company declared a quarterly dividend of $0.67 per share, with a dividend yield of 5.3%, set to be paid on September 15th.

IFG Advisory LLC grew its stake in shares of Polaris Inc. (NYSE:PII - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,990 shares of the company's stock after acquiring an additional 5,570 shares during the quarter. IFG Advisory LLC owned about 0.06% of Polaris worth $1,432,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PII. UMB Bank n.a. boosted its position in shares of Polaris by 114.1% during the 1st quarter. UMB Bank n.a. now owns 805 shares of the company's stock worth $33,000 after acquiring an additional 429 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Polaris during the 1st quarter valued at $35,000. Fifth Third Bancorp lifted 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 purchasing an additional 318 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Polaris by 191.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company's stock valued at $50,000 after purchasing an additional 797 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Polaris by 7,462.5% during the first quarter. Allworth Financial LP now owns 1,210 shares of the company's stock worth $50,000 after buying an additional 1,194 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Trading Down 1.2%

Shares of PII stock traded down $0.62 on Thursday, hitting $52.06. 456,322 shares of the stock traded hands, compared to its average volume of 1,732,861. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.37 and a current ratio of 1.04. The stock has a market capitalization of $2.93 billion, a PE ratio of -27.69 and a beta of 1.04. The firm's 50-day moving average price is $45.31 and its two-hundred day moving average price is $42.66. Polaris Inc. has a twelve month low of $30.92 and a twelve month high of $87.83.

Polaris (NYSE:PII - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.35. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The business's quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. As a group, analysts anticipate 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, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.68 annualized dividend and a yield of 5.1%. Polaris's payout ratio is -142.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup reiterated 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. Morgan Stanley reduced their target price on Polaris from $31.00 to $29.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Roth Capital upped 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. BMO Capital Markets reiterated a "market perform" rating and set a $52.00 price objective (up from $33.00) on shares of Polaris in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Polaris from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Polaris has an average rating of "Hold" and a consensus price target of $48.33.

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.