Polaris Inc. (NYSE:PII) Position Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in Polaris Inc. (NYSE:PII) by 39.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,883 shares of the company’s stock after acquiring an additional 9,047 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Polaris worth $1,837,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PII. Blue Trust Inc. raised its stake in shares of Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after buying an additional 389 shares in the last quarter. International Assets Investment Management LLC raised its position in Polaris by 1,309.5% in the third quarter. International Assets Investment Management LLC now owns 14,151 shares of the company’s stock worth $1,178,000 after acquiring an additional 13,147 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Polaris in the 3rd quarter valued at about $279,000. Ballentine Partners LLC lifted its holdings in Polaris by 22.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,664 shares of the company’s stock valued at $305,000 after acquiring an additional 668 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Polaris by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,144 shares of the company’s stock valued at $511,000 after purchasing an additional 410 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Trading Up 2.4 %

Polaris stock opened at $47.09 on Wednesday. Polaris Inc. has a 52 week low of $42.85 and a 52 week high of $100.91. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The firm has a market capitalization of $2.64 billion, a PE ratio of 24.02, a PEG ratio of 13.95 and a beta of 1.50. The business’s 50-day simple moving average is $52.05 and its 200-day simple moving average is $67.51.

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

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a yield of 5.69%. Polaris’s dividend payout ratio is 136.73%.

Wall Street Analyst Weigh In

PII has been the topic of a number of recent analyst reports. BMO Capital Markets cut their target price on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $60.00 price objective (down previously from $81.00) on shares of Polaris in a report on Tuesday, January 21st. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Roth Mkm cut their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Finally, UBS Group decreased their price objective on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Polaris presently has an average rating of “Hold” and an average target price of $66.17.

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.