Truist Financial Corp Trims Stock Holdings in Polaris Inc. (NYSE:PII)

Truist Financial Corp lessened its position in shares of Polaris Inc. (NYSE:PII) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,960 shares of the company’s stock after selling 866 shares during the period. Truist Financial Corp’s holdings in Polaris were worth $228,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Polaris by 3.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock worth $188,371,000 after buying an additional 69,844 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in Polaris by 0.7% during the 3rd quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after buying an additional 6,724 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Polaris by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock worth $46,232,000 after buying an additional 171,366 shares during the last quarter. Systematic Financial Management LP lifted its holdings in Polaris by 9.9% during the 3rd quarter. Systematic Financial Management LP now owns 229,565 shares of the company’s stock worth $19,109,000 after buying an additional 20,695 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in Polaris by 0.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 221,481 shares of the company’s stock worth $18,436,000 after buying an additional 818 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

PII has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 price target (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Finally, Truist Financial dropped their price target on Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Polaris currently has an average rating of “Hold” and an average target price of $66.17.

Polaris Stock Up 9.0 %

PII opened at $44.96 on Friday. Polaris Inc. has a 12 month low of $39.79 and a 12 month high of $100.91. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The stock has a market cap of $2.52 billion, a P/E ratio of 22.94, a P/E/G ratio of 13.95 and a beta of 1.50. The stock’s 50 day moving average price is $50.39 and its 200 day moving average price is $66.04.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. As a group, research analysts predict that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.67 per share. The ex-dividend date is Monday, March 3rd. This is a boost from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 5.96%. Polaris’s dividend payout ratio (DPR) is 136.73%.

Polaris 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.