Versor Investments LP Buys New Position in Polaris Inc. (NYSE:PII)

Versor Investments LP purchased a new stake in Polaris Inc. (NYSE:PII) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,700 shares of the company’s stock, valued at approximately $916,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Polaris by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after purchasing an additional 94,680 shares during the period. TD Asset Management Inc lifted 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 acquiring an additional 10,770 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Polaris by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,306 shares of the company’s stock worth $33,957,000 after acquiring an additional 10,745 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Polaris by 22.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock worth $6,616,000 after acquiring an additional 11,009 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Polaris in the 1st quarter worth about $1,065,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Roth Mkm reduced their price objective on Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Thursday, July 25th. Bank of America cut their price target on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird cut their price target on Polaris from $95.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, BMO Capital Markets cut their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and a consensus price target of $89.18.

Polaris Stock Performance

Shares of NYSE PII opened at $84.65 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 1.42. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 7.52 and a beta of 1.53. The business’s 50-day simple moving average is $80.52 and its 200-day simple moving average is $85.21. Polaris Inc. has a 52 week low of $71.90 and a 52 week high of $114.24.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. As a group, equities research analysts expect that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, September 3rd. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

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.