Oppenheimer Asset Management Inc. Has $1.59 Million Stock Holdings in Polaris Inc. (NYSE:PII)

Oppenheimer Asset Management Inc. lifted its stake in shares of Polaris Inc. (NYSE:PII) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,303 shares of the company’s stock after purchasing an additional 3,686 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Polaris were worth $1,590,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Confluence Investment Management LLC acquired a new stake in Polaris during the first quarter worth about $108,890,000. American Century Companies Inc. boosted its position in shares of Polaris by 311.6% during the 2nd quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after acquiring an additional 292,992 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in Polaris in the second quarter valued at approximately $15,363,000. Capital World Investors raised its position in Polaris by 2.4% during the fourth quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock valued at $640,447,000 after purchasing an additional 160,918 shares in the last quarter. Finally, Norges Bank acquired a new position in Polaris during the fourth quarter valued at approximately $12,168,000. Institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

PII has been the subject of several recent analyst reports. KeyCorp dropped their price objective on Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Truist Financial reduced their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. DA Davidson raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Thursday, July 25th. Royal Bank of Canada dropped their price objective on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 24th. Finally, Bank of America decreased their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.18.

Polaris Stock Down 1.4 %

Shares of NYSE:PII opened at $83.48 on Thursday. The business’s 50 day moving average is $81.54 and its 200 day moving average is $84.30. Polaris Inc. has a 12-month low of $71.90 and a 12-month high of $107.96. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 6.92 and a beta of 1.51. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.89). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. On average, sell-side analysts forecast that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.66 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.16%. Polaris’s payout ratio is presently 38.71%.

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.