Polaris Inc. (NYSE:PII) Position Lowered by New York State Teachers Retirement System

Posted by Defense World Staff on Jul 21st, 2023

New York State Teachers Retirement System decreased its stake in shares of Polaris Inc. (NYSE:PII – Free Report) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,590 shares of the company’s stock after selling 7,031 shares during the period. New York State Teachers Retirement System owned about 0.12% of Polaris worth $7,367,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PII. Capital World Investors lifted its position in shares of Polaris by 33.2% during the first quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock worth $389,534,000 after purchasing an additional 922,101 shares during the last quarter. Millennium Management LLC lifted its position in shares of Polaris by 1,473.6% during the fourth quarter. Millennium Management LLC now owns 661,440 shares of the company’s stock worth $66,805,000 after purchasing an additional 619,406 shares during the last quarter. State Street Corp lifted its position in shares of Polaris by 14.8% during the first quarter. State Street Corp now owns 4,136,582 shares of the company’s stock worth $435,665,000 after purchasing an additional 532,947 shares during the last quarter. Norges Bank bought a new position in Polaris in the fourth quarter worth about $49,002,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Polaris by 392.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 382,885 shares of the company’s stock worth $38,671,000 after acquiring an additional 305,200 shares during the last quarter. Institutional investors own 88.29% of the company’s stock.

Polaris Stock Performance

PII opened at $134.32 on Friday. Polaris Inc. has a twelve month low of $91.86 and a twelve month high of $135.83. The company has a current ratio of 1.21, a quick ratio of 0.37 and a debt-to-equity ratio of 1.34. The stock has a market cap of $7.64 billion, a PE ratio of 16.16 and a beta of 1.61. The business’s 50 day moving average is $117.24 and its 200-day moving average is $112.22.

Polaris (NYSE:PII – Get Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $2.05 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 quarter last year, the business earned $1.29 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts predict that Polaris Inc. will post 10.19 earnings per share for the current year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.94%. Polaris’s dividend payout ratio is presently 31.29%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Raymond James cut shares of Polaris from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. Citigroup raised their target price on shares of Polaris from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com assumed coverage on shares of Polaris in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Roth Capital reissued a “neutral” rating on shares of Polaris in a report on Tuesday, April 25th. Finally, KeyCorp raised their target price on shares of Polaris from $125.00 to $135.00 in a report on Monday. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.55.

Insider Activity at Polaris

In related news, SVP James P. Williams sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,820,000.00. Following the transaction, the senior vice president now owns 16,001 shares in the company, valued at $2,080,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.75% of the company’s stock.

About Polaris

(Free Report)

Polaris Inc designs, engineers, manufactures, and markets powersports 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; military and commercial ORVs; snowmobiles; motorcycles; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.