KLP Kapitalforvaltning AS Makes New $611,000 Investment in Polaris Inc. (NYSE:PII)

KLP Kapitalforvaltning AS bought a new stake in shares of Polaris Inc. (NYSE:PII) during the fourth quarter, Holdings Channel.com reports. The fund bought 10,600 shares of the company’s stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Polaris by 22.0% in the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock worth $11,126,000 after acquiring an additional 24,103 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Polaris by 11.1% in the third quarter. Townsquare Capital LLC now owns 5,277 shares of the company’s stock valued at $439,000 after purchasing an additional 526 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Polaris during the third quarter worth about $217,000. Benjamin Edwards Inc. raised its position in shares of Polaris by 8,867.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock worth $5,322,000 after purchasing an additional 63,225 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new position in Polaris in the 3rd quarter valued at about $586,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Trading Up 2.9 %

Shares of PII opened at $42.59 on Thursday. Polaris Inc. has a 12-month low of $39.29 and a 12-month high of $100.00. The firm has a market capitalization of $2.39 billion, a P/E ratio of 21.73, a P/E/G ratio of 13.95 and a beta of 1.54. The firm has a 50-day moving average price of $45.12 and a 200 day moving average price of $60.54. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII) last announced 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 net margin of 1.54% and a return on equity of 13.78%. Sell-side analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Polaris’s previous quarterly dividend of $0.66. Polaris’s dividend payout ratio is 136.73%.

Analyst Ratings Changes

Several research firms have commented on PII. UBS Group cut their price objective on Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets dropped their price target on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday, January 29th. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $54.00 target price on shares of Polaris in a report on Monday, March 17th. Finally, Citigroup downgraded shares of Polaris from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $49.00 to $33.00 in a research note on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.83.

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.