JustInvest LLC Purchases New Position in Polaris Inc. (NYSE:PII)

JustInvest LLC purchased a new stake in Polaris Inc. (NYSE:PII) in the 2nd quarter, HoldingsChannel reports. The firm purchased 2,510 shares of the company’s stock, valued at approximately $344,000.

Several other institutional investors have also made changes to their positions in the stock. SeaBridge Investment Advisors LLC increased its stake in shares of Polaris by 65.0% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 11,659 shares of the company’s stock valued at $1,597,000 after purchasing an additional 4,592 shares in the last quarter. Isthmus Partners LLC purchased a new position in shares of Polaris in the 2nd quarter valued at about $137,000. Principal Financial Group Inc. increased its stake in shares of Polaris by 0.8% in the 2nd quarter. Principal Financial Group Inc. now owns 204,575 shares of the company’s stock valued at $28,018,000 after purchasing an additional 1,560 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Polaris in the 2nd quarter valued at about $1,296,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Polaris by 41.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 132,916 shares of the company’s stock valued at $18,204,000 after purchasing an additional 38,728 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Several equities research analysts have commented on PII shares. Truist cut their price objective on Polaris from $150.00 to $145.00 and set a “hold” rating for the company in a research note on Wednesday, July 28th. They noted that the move was a valuation call. Zacks Investment Research lowered Polaris from a “buy” rating to a “hold” rating in a research note on Friday, July 30th. Truist Securities cut their price objective on Polaris from $150.00 to $145.00 and set a “hold” rating for the company in a research note on Wednesday, July 28th. Exane BNP Paribas started coverage on Polaris in a research note on Monday, June 14th. They set an “underperform” rating and a $113.00 price objective for the company. Finally, BNP Paribas started coverage on Polaris in a research note on Monday, June 14th. They set an “underperform” rating and a $113.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Polaris has a consensus rating of “Hold” and an average target price of $143.59.

PII opened at $120.82 on Friday. Polaris Inc. has a one year low of $88.68 and a one year high of $147.73. The stock has a market capitalization of $7.32 billion, a PE ratio of 11.57 and a beta of 1.95. The business’s 50 day moving average price is $126.09 and its 200 day moving average price is $131.88. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.34 and a current ratio of 1.17.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, July 27th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.53. Polaris had a return on equity of 65.96% and a net margin of 8.05%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The firm’s quarterly revenue was up 40.2% on a year-over-year basis. As a group, equities research analysts forecast that Polaris Inc. will post 9.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Tuesday, August 31st. Polaris’s dividend payout ratio is presently 32.56%.

Polaris Profile

Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company was founded by Allen Hetteen, Edgar E. Hetteen, and David Johnson in 1954 and is headquartered in Medina, MN.

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Institutional Ownership by Quarter for Polaris (NYSE:PII)

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