NorthCoast Asset Management LLC bought a new position in shares of Polaris Inc. (NYSE:PII) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 133,285 shares of the company’s stock, valued at approximately $17,822,000. NorthCoast Asset Management LLC owned 0.22% of Polaris as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in PII. Geode Capital Management LLC boosted its stake in shares of Polaris by 21.3% during the 1st quarter. Geode Capital Management LLC now owns 899,442 shares of the company’s stock worth $120,075,000 after acquiring an additional 158,194 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Polaris by 9.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 874,514 shares of the company’s stock valued at $83,324,000 after buying an additional 78,807 shares in the last quarter. Norges Bank acquired a new stake in Polaris in the 4th quarter valued at $67,572,000. Northern Trust Corp increased its holdings in Polaris by 7.3% in the 1st quarter. Northern Trust Corp now owns 500,687 shares of the company’s stock worth $66,842,000 after acquiring an additional 34,096 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in Polaris by 42.9% during the first quarter. GW&K Investment Management LLC now owns 486,259 shares of the company’s stock valued at $64,915,000 after purchasing an additional 145,947 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.
PII stock traded down $0.45 during midday trading on Thursday, hitting $134.80. 1,994 shares of the company’s stock were exchanged, compared to its average volume of 588,517. Polaris Inc. has a 1-year low of $86.67 and a 1-year high of $147.73. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.15 and a quick ratio of 0.43. The stock has a market capitalization of $8.26 billion, a PE ratio of 32.99 and a beta of 2.02. The company’s 50-day simple moving average is $131.44.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st were issued a $0.63 dividend. The ex-dividend date was Monday, May 31st. This represents a $2.52 annualized dividend and a dividend yield of 1.87%. Polaris’s dividend payout ratio is presently 32.56%.
PII has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Polaris from $158.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 28th. Lake Street Capital raised their target price on Polaris from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 28th. Citigroup lowered Polaris from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $135.00 to $160.00 in a research note on Monday, April 26th. They noted that the move was a valuation call. Royal Bank of Canada increased their price objective on Polaris from $127.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 28th. Finally, Exane BNP Paribas started coverage on shares of Polaris in a research note on Monday, June 14th. They set an “underperform” rating and a $113.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $144.82.
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
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