Edgestream Partners L.P. Invests $1.15 Million in Polaris Inc. (NYSE:PII)

Edgestream Partners L.P. purchased a new position in Polaris Inc. (NYSE:PII) in the 4th quarter, HoldingsChannel reports. The fund purchased 20,032 shares of the company’s stock, valued at approximately $1,154,000.

Several other large investors have also recently modified their holdings of the stock. National Bank of Canada FI raised its position in shares of Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Polaris by 0.6% in the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after purchasing an additional 183 shares during the last quarter. Quarry LP raised its position in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares during the last quarter. Claro Advisors LLC raised its position in shares of Polaris by 3.3% in the 3rd quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock worth $656,000 after purchasing an additional 254 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Polaris by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock worth $208,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Trading Down 6.5 %

Polaris stock opened at $44.35 on Wednesday. Polaris Inc. has a 52-week low of $39.79 and a 52-week high of $100.91. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.49 billion, a P/E ratio of 22.63, a P/E/G ratio of 13.95 and a beta of 1.54. The business has a 50-day simple moving average of $49.48 and a two-hundred day simple moving average of $64.84.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. Analysts predict that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.67 per share. This is a boost from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Monday, March 3rd. Polaris’s payout ratio is presently 136.73%.

Analysts Set New Price Targets

PII has been the subject of several recent analyst reports. Truist Financial lowered their price target on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Citigroup reduced their price objective on Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. DA Davidson reduced their price objective on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada reduced their price objective on Polaris from $65.00 to $54.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Finally, KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two 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 target price of $66.17.

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.