Federated Hermes Inc. Reduces Stock Holdings in Polaris Inc. (NYSE:PII)

Federated Hermes Inc. decreased its position in Polaris Inc. (NYSE:PII) by 31.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,648 shares of the company’s stock after selling 2,089 shares during the quarter. Federated Hermes Inc.’s holdings in Polaris were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Qube Research & Technologies Ltd increased its holdings in shares of Polaris by 276.5% during the third quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after acquiring an additional 266,887 shares in the last quarter. AQR Capital Management LLC boosted its position in Polaris by 151.9% in the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after purchasing an additional 255,777 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Polaris by 8.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after purchasing an additional 202,794 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Polaris by 4,928.2% in the third quarter. Lazard Asset Management LLC now owns 138,275 shares of the company’s stock worth $14,399,000 after purchasing an additional 135,525 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Polaris by 41.7% in the third quarter. Invesco Ltd. now owns 274,342 shares of the company’s stock worth $28,570,000 after purchasing an additional 80,788 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Stock Performance

Shares of Polaris stock opened at $83.92 on Friday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.42 and a beta of 1.61. Polaris Inc. has a 52 week low of $82.00 and a 52 week high of $138.49. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average is $91.61 and its two-hundred day moving average is $90.95.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Research analysts forecast that Polaris Inc. will post 8.01 EPS for the current fiscal year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, June 3rd. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. KeyCorp cut their target price on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, January 12th. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Morgan Stanley upgraded shares of Polaris from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Citigroup cut their target price on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Finally, Robert W. Baird cut their price objective on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.27.

Polaris Company 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.