Wells Fargo & Company MN Decreases Stake in Polaris Inc. (NYSE:PII)

Wells Fargo & Company MN cut its position in Polaris Inc. (NYSE:PII) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 274,282 shares of the company’s stock after selling 39,698 shares during the period. Wells Fargo & Company MN owned 0.49% of Polaris worth $15,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. ExodusPoint Capital Management LP purchased a new position in Polaris in the fourth quarter valued at approximately $395,000. National Bank of Canada FI grew its position in shares of Polaris by 4,484.5% in the 4th quarter. National Bank of Canada FI now owns 50,475 shares of the company’s stock valued at $2,908,000 after buying an additional 49,374 shares during the last quarter. Summit Financial LLC acquired a new stake in Polaris during the 4th quarter worth $296,000. Beutel Goodman & Co Ltd. lifted its position in Polaris by 2.6% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,775,331 shares of the company’s stock valued at $159,914,000 after acquiring an additional 69,766 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Polaris by 17.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,278 shares of the company’s stock worth $477,000 after purchasing an additional 1,241 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Polaris Stock Performance

PII opened at $34.04 on Tuesday. The business has a 50 day moving average price of $42.12 and a two-hundred day moving average price of $57.07. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. Polaris Inc. has a 1-year low of $30.92 and a 1-year high of $91.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. Research analysts predict that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.67 dividend. This is a positive change from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend was Monday, March 3rd. Polaris’s payout ratio is 136.73%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PII shares. DA Davidson decreased their target price on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. BMO Capital Markets cut their target price on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. Roth Mkm decreased their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. UBS Group dropped their price objective on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Baird R W downgraded shares of Polaris from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.64.

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.