Corient Private Wealth LLC Trims Holdings in Polaris Inc. (NYSE:PII)

Corient Private Wealth LLC reduced its stake in shares of Polaris Inc. (NYSE:PII) by 67.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,111 shares of the company’s stock after selling 8,658 shares during the quarter. Corient Private Wealth LLC’s holdings in Polaris were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PII. National Bank of Canada FI lifted its holdings in Polaris by 19.9% during the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after buying an additional 183 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Polaris by 0.6% during the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after acquiring an additional 183 shares during the period. Quarry LP raised its stake in shares of Polaris by 187.4% during the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Polaris by 7.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock valued at $208,000 after purchasing an additional 263 shares during the period. Finally, M&T Bank Corp grew its stake in Polaris by 10.9% in the third quarter. M&T Bank Corp now owns 3,141 shares of the company’s stock worth $261,000 after purchasing an additional 309 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. UBS Group dropped their target price on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Citigroup downgraded shares of Polaris from a “neutral” rating to a “sell” rating and cut their target price for the company from $49.00 to $33.00 in a research report on Thursday, March 20th. Finally, Bank of America lowered their price target on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Polaris presently has an average rating of “Hold” and an average price target of $59.83.

Polaris Trading Down 1.1 %

NYSE PII opened at $40.93 on Tuesday. Polaris Inc. has a 52 week low of $39.29 and a 52 week high of $100.91. The company has a 50 day moving average price of $45.61 and a 200 day moving average price of $60.95. 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 firm has a market cap of $2.30 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, March 3rd. 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 yield of 6.55%. Polaris’s dividend payout ratio (DPR) is 136.73%.

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.