State of Alaska Department of Revenue Sells 63,113 Shares of Polaris Inc. $PII

State of Alaska Department of Revenue decreased its holdings in Polaris Inc. (NYSE:PII) by 91.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,759 shares of the company’s stock after selling 63,113 shares during the period. State of Alaska Department of Revenue’s holdings in Polaris were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in shares of Polaris by 31.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 998 shares of the company’s stock valued at $58,000 after acquiring an additional 238 shares during the period. Wynn Capital LLC grew its stake in Polaris by 3.2% in the third quarter. Wynn Capital LLC now owns 7,703 shares of the company’s stock valued at $448,000 after purchasing an additional 240 shares during the last quarter. State of Michigan Retirement System raised its holdings in Polaris by 2.4% in the second quarter. State of Michigan Retirement System now owns 12,679 shares of the company’s stock worth $515,000 after purchasing an additional 300 shares in the last quarter. Koss Olinger Consulting LLC lifted its position in shares of Polaris by 0.8% during the second quarter. Koss Olinger Consulting LLC now owns 40,667 shares of the company’s stock valued at $1,653,000 after buying an additional 304 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Polaris by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,064 shares of the company’s stock valued at $328,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Polaris from $56.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 29th. Weiss Ratings raised shares of Polaris from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Zacks Research lowered Polaris from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Morgan Stanley boosted their target price on Polaris from $72.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, January 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $70.00 target price on shares of Polaris in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.82.

Insider Activity

In other news, SVP James P. Williams sold 4,554 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $67.53, for a total value of $307,531.62. Following the sale, the senior vice president owned 43,878 shares in the company, valued at $2,963,081.34. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.12% of the stock is currently owned by company insiders.

Polaris Trading Up 2.7%

Polaris stock opened at $69.94 on Thursday. The stock has a 50-day moving average price of $67.11 and a 200 day moving average price of $61.23. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -26.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14. Polaris Inc. has a 52 week low of $30.92 and a 52 week high of $75.25. The company has a quick ratio of 0.36, a current ratio of 1.02 and a debt-to-equity ratio of 1.13.

Polaris (NYSE:PII) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Polaris had a negative net margin of 2.17% and a positive return on equity of 3.89%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm posted $0.73 EPS. Polaris’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.67 per share. The ex-dividend date was Monday, December 1st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.8%. Polaris’s dividend payout ratio (DPR) is presently -101.13%.

Polaris Profile

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.