Polaris Inc. (NYSE:PII) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of Polaris Inc. (NYSE:PII) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,941 shares of the company’s stock after selling 1,508 shares during the period. California Public Employees Retirement System owned 0.19% of Polaris worth $10,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PII. Qube Research & Technologies Ltd grew its position in Polaris by 276.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock worth $37,845,000 after purchasing an additional 266,887 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Polaris by 151.9% during the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after buying an additional 255,777 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Polaris by 8.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after buying an additional 202,794 shares during the last quarter. Lazard Asset Management LLC increased its position in Polaris by 4,928.2% in the 3rd quarter. Lazard Asset Management LLC now owns 138,275 shares of the company’s stock valued at $14,399,000 after acquiring an additional 135,525 shares during the period. Finally, Invesco Ltd. raised its stake in Polaris by 41.7% during the 3rd quarter. Invesco Ltd. now owns 274,342 shares of the company’s stock valued at $28,570,000 after acquiring an additional 80,788 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PII. Longbow Research upgraded Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Monday, April 8th. Robert W. Baird dropped their price objective on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Citigroup reduced their target price on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. DA Davidson reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. Finally, Truist Financial cut their price target on shares of Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.27.

Polaris Price Performance

Shares of NYSE:PII opened at $83.46 on Thursday. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 2.52 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.42. The business’s 50 day simple moving average is $92.14 and its 200-day simple moving average is $91.15. Polaris Inc. has a 12 month low of $82.00 and a 12 month high of $138.49.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business earned $2.05 earnings per share. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, equities analysts forecast that Polaris Inc. will post 8 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, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.66 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.64 annualized dividend and a yield of 3.16%. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Polaris 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.