Gateway Investment Advisers LLC Grows Stock Position in Polaris Inc. (NYSE:PII)

Posted by Defense World Staff on Mar 24th, 2023

Gateway Investment Advisers LLC raised its stake in shares of Polaris Inc. (NYSE:PII – Get Rating) by 0.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 26,881 shares of the company’s stock after buying an additional 194 shares during the period. Gateway Investment Advisers LLC’s holdings in Polaris were worth $2,715,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wipfli Financial Advisors LLC purchased a new position in shares of Polaris in the 3rd quarter valued at about $51,000. Verition Fund Management LLC purchased a new position in shares of Polaris in the 3rd quarter valued at about $390,000. Toronto Dominion Bank increased its stake in shares of Polaris by 7.8% in the 2nd quarter. Toronto Dominion Bank now owns 17,378 shares of the company’s stock valued at $1,729,000 after purchasing an additional 1,255 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Polaris by 4.4% in the 3rd quarter. Park Avenue Securities LLC now owns 4,132 shares of the company’s stock valued at $395,000 after purchasing an additional 176 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Polaris by 9.5% in the 3rd quarter. Commerce Bank now owns 34,228 shares of the company’s stock valued at $3,274,000 after purchasing an additional 2,976 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Polaris from $108.00 to $115.00 and gave the company a “sector perform” rating in a research note on Tuesday. MKM Partners started coverage on Polaris in a research note on Tuesday, November 29th. They issued a “neutral” rating and a $117.00 price target for the company. Northcoast Research lowered Polaris from a “buy” rating to a “neutral” rating in a research note on Friday, January 13th. Jefferies Financial Group boosted their price objective on Polaris from $100.00 to $106.00 in a research note on Monday, December 5th. Finally, Citigroup boosted their price objective on Polaris from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. Nine research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Polaris presently has a consensus rating of “Hold” and a consensus target price of $113.70.

Polaris Trading Down 0.7 %

Shares of Polaris stock opened at $106.17 on Friday. The stock has a market cap of $6.06 billion, a P/E ratio of 14.16 and a beta of 1.61. The stock’s 50 day simple moving average is $112.35 and its 200-day simple moving average is $107.33. Polaris Inc. has a 1-year low of $91.86 and a 1-year high of $123.87. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.19 and a quick ratio of 0.37.

Polaris (NYSE:PII – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.18. Polaris had a return on equity of 57.76% and a net margin of 5.10%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts predict that Polaris Inc. will post 10.32 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a $0.65 dividend. The ex-dividend date was Tuesday, February 28th. This is a boost from Polaris’s previous quarterly dividend of $0.64. This represents a $2.60 dividend on an annualized basis and a yield of 2.45%. Polaris’s dividend payout ratio is currently 34.67%.

Insider Buying and Selling at Polaris

In other Polaris news, SVP Dougherty Lucy Clark sold 10,626 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $115.00, for a total value of $1,221,990.00. Following the sale, the senior vice president now owns 12,282 shares of the company’s stock, valued at $1,412,430. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Polaris Profile

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Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments: Off-Road, On-Road, and Marine. The Off-Road segment includes off-road vehicles (ORV) and snowmobiles. The On Road segment is involved in the design and manufacture of motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.