NorthRock Partners LLC Acquires New Holdings in Polaris Inc. (NYSE:PII)

Key Points

• NorthRock Partners LLC purchased 9,847 shares of Polaris Inc. valued at approximately $403,000 during the first quarter, highlighting growing institutional interest in the company.
• Polaris reported a quarterly earnings per share (EPS) of $0.40, surpassing estimates significantly, but experienced a 5.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.67, which represents a 5.4% yield, despite a negative payout ratio of -142.55%.

NorthRock Partners LLC acquired a new position in shares of Polaris Inc. (NYSE:PII - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,847 shares of the company's stock, valued at approximately $403,000.

Several other hedge funds have also made changes to their positions in PII. RWWM Inc. boosted its stake in Polaris by 169.2% in the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company's stock valued at $98,053,000 after buying an additional 1,505,351 shares in the last quarter. Norges Bank bought a new position in shares of Polaris during the fourth quarter valued at $24,659,000. Capital World Investors boosted its stake in shares of Polaris by 6.7% in the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company's stock valued at $354,725,000 after purchasing an additional 388,050 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Polaris in the 4th quarter valued at $21,776,000. Finally, GAMMA Investing LLC grew its holdings in shares of Polaris by 25,682.0% in the 1st quarter. GAMMA Investing LLC now owns 249,570 shares of the company's stock worth $10,217,000 after purchasing an additional 248,602 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

Wall Street Analyst Weigh In

PII has been the subject of several analyst reports. Robert W. Baird lifted their price target on shares of Polaris from $46.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday. Wall Street Zen raised Polaris from a "strong sell" rating to a "hold" rating in a report on Saturday. Truist Financial reduced their price objective on Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Morgan Stanley decreased their target price on Polaris from $31.00 to $29.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Royal Bank Of Canada lifted their price target on Polaris from $34.00 to $56.00 and gave the company a "sector perform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Polaris currently has an average rating of "Hold" and an average price target of $48.33.

Polaris Trading Down 6.3%

Polaris stock traded down $3.34 during trading hours on Friday, reaching $49.57. 2,201,354 shares of the company's stock traded hands, compared to its average volume of 1,752,665. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -26.37 and a beta of 1.04. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.37 and a current ratio of 1.04. Polaris Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $87.83. The firm's 50 day moving average is $44.54 and its 200-day moving average is $42.55.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings data 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. Polaris had a negative net margin of 1.57% and a positive return on equity of 5.16%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $1.38 earnings per share. Polaris's revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.4%. Polaris's payout ratio is -142.55%.

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.