State of Alaska Department of Revenue Boosts Stake in Polaris Inc. (NYSE:PII)

State of Alaska Department of Revenue grew its stake in shares of Polaris Inc. (NYSE:PII) by 371.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,979 shares of the company’s stock after buying an additional 22,835 shares during the quarter. State of Alaska Department of Revenue’s holdings in Polaris were worth $1,669,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in Polaris by 534.5% during the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares during the last quarter. Quarry LP lifted its holdings in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after acquiring an additional 253 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Polaris by 232.6% during the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after purchasing an additional 677 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 shares during the period. 88.06% of the stock is owned by institutional investors.

Polaris Stock Performance

Shares of PII stock opened at $44.30 on Wednesday. Polaris Inc. has a 12 month low of $43.20 and a 12 month high of $100.91. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The company’s fifty day moving average price is $55.71 and its 200-day moving average price is $69.97. The stock has a market cap of $2.47 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 13.80 and a beta of 1.50.

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%. On average, equities analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.67 dividend. This is a positive change from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 6.05%. Polaris’s payout ratio is 134.69%.

Analyst Ratings Changes

Several research firms have recently commented on PII. BMO Capital Markets decreased their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their price objective on Polaris from $65.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. Truist Financial decreased their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Finally, UBS Group dropped their price target on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Polaris presently has an average rating of “Hold” and an average price target of $66.17.

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.