Van ECK Associates Corp Buys 53,438 Shares of Polaris Inc. (NYSE:PII)

Van ECK Associates Corp increased its position in Polaris Inc. (NYSE:PII) by 130.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,404 shares of the company’s stock after acquiring an additional 53,438 shares during the quarter. Van ECK Associates Corp owned about 0.17% of Polaris worth $5,440,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI grew its position in shares of Polaris by 19.9% during the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after buying an additional 183 shares in the last quarter. Nordea Investment Management AB lifted its stake in Polaris by 0.6% in the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after acquiring an additional 183 shares during the period. Quarry LP grew its holdings in Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after acquiring an additional 253 shares in the last quarter. Claro Advisors LLC increased its position in Polaris by 3.3% during the 3rd quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock valued at $656,000 after purchasing an additional 254 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Polaris by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock valued at $208,000 after purchasing an additional 263 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PII. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 price objective (down from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Roth Mkm reduced their target price on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, January 24th. BMO Capital Markets lowered their price target on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. Truist Financial lowered their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.17.

Polaris Stock Performance

Shares of PII stock opened at $46.24 on Wednesday. The firm has a 50 day moving average of $53.71 and a two-hundred day moving average of $68.68. The stock has a market capitalization of $2.58 billion, a PE ratio of 23.59, a P/E/G ratio of 13.80 and a beta of 1.50. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris Inc. has a 52 week low of $42.85 and a 52 week high of $100.91.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping 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%. On average, research analysts predict that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.80%. This is a boost from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date is Monday, March 3rd. Polaris’s payout ratio is presently 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.