CI Investments Inc. Sells 253 Shares of Polaris Inc. (NYSE:PII)

Posted by on May 25th, 2023

CI Investments Inc. lessened its stake in Polaris Inc. (NYSE:PII – Get Rating) by 17.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,200 shares of the company’s stock after selling 253 shares during the period. CI Investments Inc.’s holdings in Polaris were worth $121,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PII. Standard Family Office LLC acquired a new stake in Polaris during the 3rd quarter worth $26,000. Larson Financial Group LLC acquired a new stake in Polaris during the 4th quarter worth $28,000. Red Tortoise LLC acquired a new stake in Polaris during the 4th quarter worth $43,000. Spire Wealth Management grew its holdings in Polaris by 137.6% during the 3rd quarter. Spire Wealth Management now owns 430 shares of the company’s stock worth $41,000 after acquiring an additional 249 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in Polaris during the 1st quarter worth $47,000. Institutional investors own 86.57% of the company’s stock.

Polaris Stock Down 1.6 %

PII stock opened at $104.82 on Thursday. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 12.61 and a beta of 1.61. Polaris Inc. has a twelve month low of $91.86 and a twelve month high of $123.87. The business has a 50 day moving average price of $106.92 and a two-hundred day moving average price of $108.76. The company has a quick ratio of 0.37, a current ratio of 1.21 and a debt-to-equity ratio of 1.34.

Polaris (NYSE:PII – Get Rating) last released its earnings results on Tuesday, April 25th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $1.29 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Analysts anticipate that Polaris Inc. will post 10.19 EPS for the current fiscal year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.65 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $2.60 annualized dividend and a yield of 2.48%. Polaris’s dividend payout ratio (DPR) is currently 31.29%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Polaris from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. StockNews.com started coverage on shares of Polaris in a report on Thursday, May 18th. They issued a “buy” rating for the company. KeyCorp started coverage on shares of Polaris in a report on Wednesday, April 19th. They issued an “overweight” rating and a $125.00 price target for the company. Roth Capital reissued a “neutral” rating on shares of Polaris in a report on Tuesday, April 25th. Finally, Raymond James boosted their price target 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. 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 company. Based on data from MarketBeat, the stock 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.

See Also

Institutional Ownership by Quarter for Polaris (NYSE:PII)

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