Polaris Inc. (NYSE:PII) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in Polaris Inc. (NYSE:PII - Free Report) by 51.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,977 shares of the company's stock after acquiring an additional 14,998 shares during the quarter. State of Alaska Department of Revenue owned 0.08% of Polaris worth $1,800,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. RWWM Inc. boosted its holdings in Polaris by 169.2% in the first quarter. RWWM Inc. now owns 2,395,049 shares of the company's stock valued at $98,053,000 after purchasing an additional 1,505,351 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Polaris by 132.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company's stock valued at $51,909,000 after purchasing an additional 513,542 shares in the last quarter. Norges Bank purchased a new position in shares of Polaris during the 4th quarter valued at approximately $24,659,000. Capital World Investors grew its position in shares of Polaris by 6.7% during the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company's stock worth $354,725,000 after buying an additional 388,050 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Polaris during the fourth quarter worth approximately $21,776,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PII shares. Bank of America decreased their price objective on shares of Polaris from $55.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Roth Capital reissued a "neutral" rating on shares of Polaris in a report on Tuesday, April 22nd. Robert W. Baird upped their price objective on Polaris from $33.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Truist Financial decreased their target price on Polaris from $55.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Baird R W downgraded Polaris from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $45.27.

Polaris Stock Performance

NYSE:PII traded up $0.86 during midday trading on Friday, reaching $40.98. 9,237,502 shares of the company traded hands, compared to its average volume of 1,743,380. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 56.92 and a beta of 1.04. The company has a fifty day moving average price of $38.12 and a 200 day moving average price of $44.54. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.12 and a quick ratio of 0.37. Polaris Inc. has a twelve month low of $30.92 and a twelve month high of $88.00.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.01. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Polaris had a net margin of 0.58% and a return on equity of 9.26%. The company's revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.54%. The ex-dividend date was Monday, June 2nd. Polaris's dividend payout ratio (DPR) is 372.22%.

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.