Oppenheimer & Co. Inc. Increases Stock Position in Polaris Inc. (NYSE:PII)

Oppenheimer & Co. Inc. boosted its stake in Polaris Inc. (NYSE:PIIGet Rating) by 4.8% in the second quarter, Holdings Channel.com reports. The fund owned 3,075 shares of the company’s stock after buying an additional 140 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Polaris were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of PII. IndexIQ Advisors LLC purchased a new stake in Polaris in the first quarter valued at $27,000. CX Institutional purchased a new stake in shares of Polaris in the second quarter valued at about $27,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Polaris in the first quarter valued at about $47,000. Signaturefd LLC raised its holdings in shares of Polaris by 60.9% in the first quarter. Signaturefd LLC now owns 637 shares of the company’s stock valued at $67,000 after buying an additional 241 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Polaris by 15.7% in the second quarter. CWM LLC now owns 802 shares of the company’s stock valued at $80,000 after buying an additional 109 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Polaris Trading Up 0.4 %

Shares of PII opened at $110.45 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.41 and a debt-to-equity ratio of 1.55. The firm’s 50-day moving average is $102.88 and its two-hundred day moving average is $106.97. Polaris Inc. has a twelve month low of $91.86 and a twelve month high of $127.37. The firm has a market capitalization of $6.40 billion, a P/E ratio of 19.87 and a beta of 1.52.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.56 annualized dividend and a yield of 2.32%. Polaris’s payout ratio is currently 46.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PII shares. StockNews.com raised shares of Polaris from a “hold” rating to a “buy” rating in a report on Wednesday. Truist Financial reduced their target price on shares of Polaris from $115.00 to $105.00 and set a “hold” rating for the company in a report on Wednesday, October 5th. Robert W. Baird dropped their price target on shares of Polaris from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, October 6th. DA Davidson dropped their price target on shares of Polaris from $101.00 to $90.00 in a research note on Wednesday, October 26th. Finally, Raymond James dropped their price target on shares of Polaris from $137.00 to $123.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.44.

About Polaris

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Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. 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; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.

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Institutional Ownership by Quarter for Polaris (NYSE:PII)

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