Envestnet Asset Management Inc. increased its holdings in shares of Polaris Inc. (NYSE:PII – Get Rating) by 10.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 127,323 shares of the company’s stock after acquiring an additional 12,555 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Polaris were worth $13,410,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted its position in Polaris by 9.9% during the 4th quarter. State Street Corp now owns 3,603,635 shares of the company’s stock worth $396,076,000 after buying an additional 325,070 shares during the period. Boston Partners raised its holdings in Polaris by 4.3% during the 4th quarter. Boston Partners now owns 3,396,458 shares of the company’s stock worth $373,427,000 after purchasing an additional 140,651 shares during the last quarter. Capital World Investors raised its holdings in Polaris by 147.6% during the 4th quarter. Capital World Investors now owns 2,776,472 shares of the company’s stock worth $305,162,000 after purchasing an additional 1,655,218 shares during the last quarter. American Century Companies Inc. raised its holdings in Polaris by 16.3% during the 4th quarter. American Century Companies Inc. now owns 1,081,311 shares of the company’s stock worth $118,847,000 after purchasing an additional 151,348 shares during the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Polaris by 3.0% during the 1st quarter. Confluence Investment Management LLC now owns 1,070,136 shares of the company’s stock worth $112,707,000 after purchasing an additional 31,611 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have issued reports on PII shares. Northcoast Research restated a “buy” rating on shares of Polaris in a report on Tuesday, May 17th. Jefferies Financial Group started coverage on shares of Polaris in a report on Tuesday, June 28th. They set a “hold” rating and a $105.00 price target for the company. Raymond James lowered their price target on shares of Polaris from $149.00 to $131.00 in a report on Wednesday, April 27th. Robert W. Baird lowered their price target on shares of Polaris from $135.00 to $130.00 in a report on Wednesday, July 27th. Finally, Citigroup lowered their price objective on shares of Polaris from $145.00 to $139.00 and set a “buy” rating for the company in a research note on Tuesday, April 19th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.36.
Polaris Stock Performance
Polaris (NYSE:PII – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.36. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.17 billion. Polaris had a net margin of 3.27% and a return on equity of 41.72%. Polaris’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 EPS. Analysts forecast that Polaris Inc. will post 10.12 EPS for the current fiscal year.
Polaris Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.64 per share. The ex-dividend date is Wednesday, August 31st. This represents a $2.56 dividend on an annualized basis and a yield of 2.22%. Polaris’s dividend payout ratio (DPR) is presently 59.53%.
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through six segments: ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
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