US Bancorp DE Raises Stock Holdings in Polaris Inc. (NYSE:PII)

US Bancorp DE increased its stake in shares of Polaris Inc. (NYSE:PII) by 70.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,021 shares of the company’s stock after purchasing an additional 4,548 shares during the quarter. US Bancorp DE’s holdings in Polaris were worth $451,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. TD Waterhouse Canada Inc. grew its holdings in Polaris by 1.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 22,484 shares of the company’s stock valued at $1,295,000 after purchasing an additional 241 shares during the period. Fifth Third Bancorp grew its holdings in Polaris by 46.9% in the first quarter. Fifth Third Bancorp now owns 996 shares of the company’s stock valued at $41,000 after purchasing an additional 318 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in Polaris by 5.0% in the first quarter. Linden Thomas Advisory Services LLC now owns 7,984 shares of the company’s stock valued at $327,000 after purchasing an additional 379 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Polaris by 2.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,234 shares of the company’s stock valued at $583,000 after purchasing an additional 396 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Polaris by 0.4% in the first quarter. Principal Financial Group Inc. now owns 120,572 shares of the company’s stock valued at $4,936,000 after acquiring an additional 423 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Stock Performance

Shares of Polaris stock opened at $55.26 on Wednesday. Polaris Inc. has a one year low of $30.92 and a one year high of $87.83. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -29.39 and a beta of 1.04. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.37 and a current ratio of 1.04. The business’s 50 day moving average price is $46.38 and its 200 day moving average price is $42.53.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, July 29th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.35. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts predict that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.67 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 4.8%. Polaris’s payout ratio is currently -142.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PII shares. Citigroup restated a “sell” rating and issued a $27.00 target price (up previously from $23.00) on shares of Polaris in a research report on Monday, June 16th. Royal Bank Of Canada raised their target price on Polaris from $34.00 to $56.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Roth Capital raised their target price on Polaris from $32.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Polaris from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley decreased their target price on Polaris from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.33.

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.