Raymond James & Associates Sells 30,396 Shares of Polaris Inc. (NYSE:PII)

Raymond James & Associates lessened its position in Polaris Inc. (NYSE:PII - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,420 shares of the company's stock after selling 30,396 shares during the period. Raymond James & Associates owned about 0.67% of Polaris worth $35,958,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its position in shares of Polaris by 30.4% in the second quarter. IFP Advisors Inc now owns 395 shares of the company's stock valued at $48,000 after buying an additional 92 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Polaris by 4.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,533 shares of the company's stock valued at $256,000 after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC increased its position in Polaris by 71.2% during the second quarter. Farther Finance Advisors LLC now owns 250 shares of the company's stock worth $30,000 after purchasing an additional 104 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Polaris by 3.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,533 shares of the company's stock worth $357,000 after purchasing an additional 110 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Polaris by 4.2% in the 2nd quarter. Sei Investments Co. now owns 2,805 shares of the company's stock valued at $339,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Polaris Stock Performance

NYSE PII traded up $1.04 on Friday, hitting $100.12. The stock had a trading volume of 592,958 shares, compared to its average volume of 680,884. Polaris Inc. has a one year low of $82.00 and a one year high of $138.49. The company has a quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 11.51 and a beta of 1.59. The company's 50-day moving average is $92.44 and its two-hundred day moving average is $92.99.

Polaris (NYSE:PII - Get Free Report) last posted its earnings results on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.69). Polaris had a return on equity of 40.98% and a net margin of 5.63%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the company posted $3.46 EPS. Polaris's revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts expect that Polaris Inc. will post 7.98 earnings per share for the current year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.66 dividend. This is a boost from Polaris's previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a yield of 2.64%. Polaris's dividend payout ratio is 30.34%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PII. Truist Financial cut their target price on shares of Polaris from $100.00 to $96.00 and set a "hold" rating on the stock in a research note on Wednesday, January 31st. DA Davidson restated a "neutral" rating and issued a $80.00 target price on shares of Polaris in a research note on Tuesday, March 5th. Royal Bank of Canada upped their target price on shares of Polaris from $100.00 to $103.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 31st. KeyCorp cut their target price on shares of Polaris from $115.00 to $105.00 and set an "overweight" rating on the stock in a research note on Friday, January 12th. Finally, BMO Capital Markets dropped their price objective on shares of Polaris from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 31st. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $102.44.

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.