ProShare Advisors LLC Purchases 35,952 Shares of Polaris Inc. (NYSE:PII)

ProShare Advisors LLC boosted its position in Polaris Inc. (NYSE:PII) by 11.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 359,039 shares of the company’s stock after purchasing an additional 35,952 shares during the quarter. ProShare Advisors LLC owned approximately 0.64% of Polaris worth $28,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New England Capital Financial Advisors LLC purchased a new stake in shares of Polaris in the 1st quarter worth approximately $25,000. Creekmur Asset Management LLC purchased a new stake in shares of Polaris in the fourth quarter worth $27,000. Bessemer Group Inc. increased its holdings in shares of Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after acquiring an additional 235 shares in the last quarter. Security National Bank purchased a new position in shares of Polaris in the 4th quarter worth about $47,000. Finally, Signaturefd LLC boosted its stake in Polaris by 1,931.3% in the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock worth $51,000 after purchasing an additional 618 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 have issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, July 24th. Citigroup lowered their price objective on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Truist Financial reduced their target price on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. BMO Capital Markets lowered their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. Finally, Roth Mkm reduced their price objective on Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.18.

Polaris Stock Performance

PII opened at $82.66 on Tuesday. The company’s 50 day moving average is $81.93 and its 200 day moving average is $84.08. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 7.42 and a beta of 1.51. Polaris Inc. has a 12-month low of $71.90 and a 12-month high of $106.17.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the business earned $2.42 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. On average, equities research analysts predict that Polaris Inc. will post 3.79 EPS for the current year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.19%. Polaris’s dividend payout ratio (DPR) is presently 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.