Handelsinvest Investeringsforvaltning Sells 962 Shares of Polaris Inc. (NYSE:PII)

Handelsinvest Investeringsforvaltning reduced its holdings in Polaris Inc. (NYSE:PII) by 34.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,853 shares of the company’s stock after selling 962 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Polaris were worth $186,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. State of Michigan Retirement System increased its holdings in shares of Polaris by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,079 shares of the company’s stock worth $1,309,000 after acquiring an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Polaris by 14.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after buying an additional 169 shares in the last quarter. Claro Advisors LLC grew its holdings in shares of Polaris by 54.7% during the first quarter. Claro Advisors LLC now owns 7,609 shares of the company’s stock worth $762,000 after buying an additional 2,690 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Polaris by 36.4% during the first quarter. Diversified Trust Co now owns 33,809 shares of the company’s stock worth $3,385,000 after buying an additional 9,024 shares in the last quarter. Finally, Calton & Associates Inc. grew its holdings in shares of Polaris by 140.7% during the first quarter. Calton & Associates Inc. now owns 9,848 shares of the company’s stock worth $986,000 after buying an additional 5,757 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Polaris Trading Down 0.4 %

PII opened at $75.67 on Thursday. The company has a fifty day moving average price of $81.35 and a two-hundred day moving average price of $88.42. Polaris Inc. has a 1-year low of $74.25 and a 1-year high of $138.49. The company has a market cap of $4.28 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53. 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 (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion during 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 firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. Analysts predict that Polaris Inc. will post 8.01 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, June 3rd. Polaris’s dividend payout ratio is presently 38.71%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. DA Davidson decreased their price objective on Polaris from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada decreased their price objective on Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. StockNews.com downgraded Polaris from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Truist Financial decreased their price target on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Finally, Citigroup decreased their price target on Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $99.36.

Polaris Company 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.