HighPoint Advisor Group LLC Buys New Position in Polaris Inc. (NYSE:PII)

HighPoint Advisor Group LLC purchased a new position in Polaris Inc. (NYSE:PII) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,543 shares of the company’s stock, valued at approximately $430,000.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in Polaris by 34.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,248 shares of the company’s stock worth $2,014,000 after purchasing an additional 5,411 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Polaris by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock valued at $550,375,000 after buying an additional 48,179 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Polaris by 0.7% in the 4th quarter. Fisher Asset Management LLC now owns 113,100 shares of the company’s stock valued at $10,719,000 after acquiring an additional 737 shares during the period. Creekmur Asset Management LLC purchased a new position in Polaris in the 4th quarter worth $27,000. Finally, Sierra Summit Advisors LLC acquired a new stake in Polaris during the 4th quarter worth about $279,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PII shares. Truist Financial reduced their price objective on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada dropped their price objective on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 24th. Robert W. Baird reduced their target price on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Citigroup decreased their target price on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, Bank of America began coverage on Polaris in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $100.27.

Polaris Stock Performance

NYSE PII opened at $77.88 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. Polaris Inc. has a twelve month low of $75.54 and a twelve month high of $138.49. The stock has a 50-day moving average of $83.48 and a 200 day moving average of $89.20. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 2.69 and a beta of 1.56.

Polaris (NYSE:PII) last announced its earnings results 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. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. Sell-side analysts anticipate that Polaris Inc. will post 8.01 EPS for the current fiscal year.

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.66 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.39%. Polaris’s dividend payout ratio is currently 38.71%.

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.