Select Equity Group L.P. Lowers Stock Holdings in Polaris Inc. (NYSE:PII)

Select Equity Group L.P. decreased its position in Polaris Inc. (NYSE:PII - Free Report) by 66.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,370 shares of the company's stock after selling 1,318,719 shares during the quarter. Select Equity Group L.P. owned approximately 1.20% of Polaris worth $38,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PII. RWWM Inc. grew its stake in shares of Polaris by 377.4% in the 4th quarter. RWWM Inc. now owns 889,698 shares of the company's stock worth $51,264,000 after acquiring an additional 703,322 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings 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 worth $51,909,000 after buying an additional 513,542 shares during the last quarter. Norges Bank purchased a new position in shares of Polaris in the 4th quarter worth about $24,659,000. Capital World Investors boosted its holdings 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 worth $354,725,000 after buying an additional 388,050 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Polaris in the 4th quarter worth about $21,776,000. Institutional investors own 88.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PII. Baird R W downgraded shares of Polaris from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley cut their price target on shares of Polaris from $31.00 to $29.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded shares of Polaris from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Robert W. Baird boosted their price target on shares of Polaris from $33.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Truist Financial cut their price target on shares of Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $45.82.

Polaris Stock Performance

NYSE PII traded up $0.24 during trading on Thursday, hitting $38.88. 341,755 shares of the company's stock traded hands, compared to its average volume of 1,777,728. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 13.95 and a beta of 1.05. Polaris Inc. has a 12-month low of $30.92 and a 12-month high of $88.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The business has a 50 day moving average of $37.09 and a 200-day moving average of $49.46.

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, topping analysts' consensus estimates of ($0.91) by $0.01. Polaris had a net margin of 1.54% and a return on equity of 13.78%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. The company's revenue for the quarter was down 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Monday, June 2nd. Polaris's payout ratio is 372.22%.

About Polaris

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.