Polaris Inc. (NYSE:PII) Position Lessened by Truist Financial Corp

Truist Financial Corp lowered its position in Polaris Inc. (NYSE:PII) by 15.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,554 shares of the company’s stock after selling 6,742 shares during the quarter. Truist Financial Corp owned approximately 0.07% of Polaris worth $3,559,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in Polaris by 8.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after purchasing an additional 202,794 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Polaris by 151.9% during the 3rd quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after acquiring an additional 255,777 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Polaris by 1.4% during the 3rd quarter. Northern Trust Corp now owns 406,947 shares of the company’s stock valued at $42,379,000 after acquiring an additional 5,493 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Polaris by 276.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after acquiring an additional 266,887 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Polaris by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,561 shares of the company’s stock valued at $36,195,000 after acquiring an additional 3,747 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Stock Performance

Shares of NYSE PII opened at $84.84 on Tuesday. Polaris Inc. has a one year low of $82.00 and a one year high of $138.49. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. The business has a fifty day simple moving average of $91.49 and a 200 day simple moving average of $90.78. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 2.44 and a beta of 1.61.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The business’s revenue was down 20.3% on a year-over-year basis. Sell-side analysts expect that Polaris Inc. will post 8.01 EPS for the current year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.11%. Polaris’s dividend payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PII shares. Truist Financial lowered their price target on Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. BMO Capital Markets cut their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday, January 31st. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Monday, April 8th. Robert W. Baird dropped their price objective on Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, KeyCorp decreased their target price on Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, January 12th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $100.27.

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.