Arizona State Retirement System Buys 605 Shares of Polaris Inc. (NYSE:PII)

Posted by on May 12th, 2023

Arizona State Retirement System lifted its holdings in Polaris Inc. (NYSE:PII – Get Rating) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,965 shares of the company’s stock after purchasing an additional 605 shares during the quarter. Arizona State Retirement System’s holdings in Polaris were worth $1,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Standard Family Office LLC acquired a new stake in shares of Polaris during the 3rd quarter valued at about $26,000. Larson Financial Group LLC acquired a new position in shares of Polaris during the fourth quarter worth $28,000. Spire Wealth Management boosted its stake in Polaris by 137.6% in the third quarter. Spire Wealth Management now owns 430 shares of the company’s stock valued at $41,000 after acquiring an additional 249 shares in the last quarter. Red Tortoise LLC acquired a new position in Polaris in the fourth quarter valued at $43,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Polaris in the first quarter valued at $47,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Polaris Stock Up 0.6 %

PII stock opened at $103.46 on Friday. Polaris Inc. has a 12-month low of $91.86 and a 12-month high of $123.87. The company has a quick ratio of 0.37, a current ratio of 1.21 and a debt-to-equity ratio of 1.34. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 12.45 and a beta of 1.61. The company has a 50 day moving average of $108.37 and a two-hundred day moving average of $108.39.

Polaris (NYSE:PII – Get Rating) last posted its earnings results on Tuesday, April 25th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.32. Polaris had a net margin of 5.46% and a return on equity of 60.97%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business posted $1.29 EPS. Polaris’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that Polaris Inc. will post 10.19 earnings per share for the current fiscal year.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, May 31st. Polaris’s dividend payout ratio (DPR) is presently 31.29%.

Analyst Upgrades and Downgrades

PII has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Polaris from $105.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, April 5th. KeyCorp began coverage on shares of Polaris in a report on Wednesday, April 19th. They set an “overweight” rating and a $125.00 price target for the company. Raymond James increased their target price on shares of Polaris from $123.00 to $130.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 1st. Royal Bank of Canada lifted their price target on shares of Polaris from $108.00 to $115.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 21st. Finally, Northcoast Research downgraded shares of Polaris from a “buy” rating to a “neutral” rating in a research report on Friday, January 13th. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Polaris currently has an average rating of “Hold” and a consensus target price of $114.27.

Polaris Company 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.

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Institutional Ownership by Quarter for Polaris (NYSE:PII)

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