TD Asset Management Inc Reduces Position in Polaris Inc. (NYSE:PII)

Key Points

• TD Asset Management Inc decreased its stake in Polaris Inc. by 5.4%, now owning 137,044 shares valued at approximately $5.6 million.
• Polaris reported a quarterly EPS of $0.40, significantly exceeding analyst expectations of $0.05, despite a year-over-year revenue decline of 5.5%.
• The company announced a quarterly dividend of $0.67 per share, representing a yield of 5.4% and a negative payout ratio of -142.55%.

TD Asset Management Inc decreased its stake in Polaris Inc. (NYSE:PII - Free Report) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,044 shares of the company's stock after selling 7,876 shares during the quarter. TD Asset Management Inc owned approximately 0.24% of Polaris worth $5,611,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts recently commented on PII shares. Citigroup reiterated a "sell" rating and issued a $27.00 price target (up previously from $23.00) on shares of Polaris in a research report on Monday, June 16th. Truist Financial cut their target price on Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets restated a "market perform" rating and issued a $52.00 price target (up from $33.00) on shares of Polaris in a research report on Wednesday, July 30th. Morgan Stanley reduced their target price on shares of Polaris from $31.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada upped their price target on shares of Polaris from $34.00 to $56.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Polaris presently has an average rating of "Hold" and an average target price of $48.33.

Polaris Stock Down 0.8%

Shares of Polaris stock traded down $0.43 on Wednesday, reaching $52.49. The stock had a trading volume of 486,860 shares, compared to its average volume of 1,737,945. The company has a quick ratio of 0.37, a current ratio of 1.04 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $2.95 billion, a P/E ratio of -27.89 and a beta of 1.04. The company has a 50 day moving average price of $45.05 and a 200 day moving average price of $42.59. 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 issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.35. The business had revenue of $1.85 billion for 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 prior year, the firm posted $1.38 earnings per share. As a group, equities research analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.67 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.68 annualized dividend and a dividend yield of 5.1%. Polaris's dividend payout ratio is -142.55%.

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.