Davis R M Inc. Cuts Position in Polaris Inc. (NYSE:PII)

Davis R M Inc. trimmed its holdings in shares of Polaris Inc. (NYSE:PII) by 43.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,465 shares of the company’s stock after selling 16,638 shares during the period. Davis R M Inc.’s holdings in Polaris were worth $2,149,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Chase Investment Counsel Corp bought a new position in Polaris during the 4th quarter valued at approximately $852,000. Semanteon Capital Management LP purchased a new position in shares of Polaris in the 4th quarter worth about $1,270,000. TD Asset Management Inc boosted its stake in Polaris by 8.3% in the 4th quarter. TD Asset Management Inc now owns 140,779 shares of the company’s stock worth $13,342,000 after purchasing an additional 10,770 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Polaris by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,306 shares of the company’s stock valued at $33,957,000 after purchasing an additional 10,745 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Polaris by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock valued at $550,375,000 after purchasing an additional 48,179 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Price Performance

Polaris stock traded down $3.07 during mid-day trading on Tuesday, hitting $79.07. The stock had a trading volume of 2,713,726 shares, compared to its average volume of 758,493. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average is $79.92 and its 200 day moving average is $87.09. The firm has a market capitalization of $4.47 billion, a P/E ratio of 10.88, a P/E/G ratio of 3.65 and a beta of 1.53. Polaris Inc. has a one year low of $73.26 and a one year high of $138.49.

Polaris (NYSE:PII) last released its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. 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 posted $2.05 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. On average, sell-side analysts forecast that Polaris Inc. will post 7.51 earnings per share for the current fiscal year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Monday, June 3rd. Polaris’s payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PII. DA Davidson reduced their price target on shares of Polaris from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Truist Financial decreased their price target on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Citigroup lowered their price target on Polaris from $96.00 to $86.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Longbow Research upgraded Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Finally, Royal Bank of Canada lowered their target price on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.55.

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.