Raymond James Financial Inc. Makes New Investment in Polaris Inc. (NYSE:PII)

Raymond James Financial Inc. bought a new position in shares of Polaris Inc. (NYSE:PII) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 377,919 shares of the company’s stock, valued at approximately $21,776,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aigen Investment Management LP bought a new position in Polaris during the fourth quarter worth about $839,000. Victory Capital Management Inc. lifted its holdings in Polaris by 9.0% during the fourth quarter. Victory Capital Management Inc. now owns 47,697 shares of the company’s stock worth $2,748,000 after acquiring an additional 3,935 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Polaris by 57.5% during the fourth quarter. Jones Financial Companies Lllp now owns 13,084 shares of the company’s stock worth $754,000 after acquiring an additional 4,779 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Polaris by 418.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,032 shares of the company’s stock valued at $117,000 after purchasing an additional 1,640 shares during the period. Finally, Keynote Financial Services LLC raised its stake in shares of Polaris by 20.3% in the 4th quarter. Keynote Financial Services LLC now owns 7,334 shares of the company’s stock valued at $423,000 after purchasing an additional 1,240 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PII has been the topic of several recent research reports. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 price target (down previously from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Roth Mkm dropped their price target on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Finally, BMO Capital Markets lowered their target price on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $66.17.

Polaris Price Performance

Shares of NYSE PII opened at $42.42 on Friday. The business’s 50 day moving average price is $48.63 and its two-hundred day moving average price is $64.09. The company has a market cap of $2.38 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris Inc. has a twelve month low of $39.79 and a twelve month high of $100.91.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping 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%. On average, analysts predict that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is 136.73%.

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.