Legacy Wealth Asset Management LLC Makes New $265,000 Investment in Polaris Inc. (NYSE:PII)

Legacy Wealth Asset Management LLC bought a new position in shares of Polaris Inc. (NYSE:PII) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,647 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. State of Michigan Retirement System raised its holdings in shares of Polaris by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 13,079 shares of the company’s stock valued at $1,309,000 after purchasing an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after purchasing an additional 169 shares in the last quarter. Claro Advisors LLC raised its stake in Polaris by 54.7% during the 1st quarter. Claro Advisors LLC now owns 7,609 shares of the company’s stock worth $762,000 after acquiring an additional 2,690 shares in the last quarter. Diversified Trust Co raised its stake in Polaris by 36.4% during the 1st quarter. Diversified Trust Co now owns 33,809 shares of the company’s stock worth $3,385,000 after acquiring an additional 9,024 shares in the last quarter. Finally, Calton & Associates Inc. raised its stake in Polaris by 140.7% during the 1st quarter. Calton & Associates Inc. now owns 9,848 shares of the company’s stock worth $986,000 after acquiring an additional 5,757 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Polaris Price Performance

Shares of NYSE PII traded down $0.27 during midday trading on Thursday, hitting $75.67. The company had a trading volume of 479,412 shares, compared to its average volume of 840,157. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. Polaris Inc. has a twelve month low of $74.25 and a twelve month high of $138.49. The business has a 50-day simple moving average of $81.35 and a two-hundred day simple moving average of $88.42. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities research analysts anticipate that Polaris Inc. will post 8.01 earnings per share for the current year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Monday, June 3rd. Polaris’s payout ratio is currently 38.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. DA Davidson lowered their price objective on shares of Polaris from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America began coverage on shares of Polaris in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price objective on the stock. Truist Financial lowered their price objective on shares of Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, StockNews.com downgraded shares of Polaris from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.36.

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.