New York State Common Retirement Fund Trims Holdings in Polaris Inc. (NYSE:PII)

New York State Common Retirement Fund lowered its position in shares of Polaris Inc. (NYSE:PII) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,995 shares of the company’s stock after selling 4,549 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Polaris worth $3,696,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PII. Qube Research & Technologies Ltd boosted its holdings in Polaris by 276.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock worth $37,845,000 after buying an additional 266,887 shares during the period. AQR Capital Management LLC boosted its stake in shares of 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 acquiring an additional 255,777 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Polaris by 8.9% during 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 in the last quarter. Lazard Asset Management LLC grew its position in shares of Polaris by 4,928.2% during 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 in the last quarter. Finally, Invesco Ltd. raised its stake in Polaris by 41.7% during the 3rd quarter. Invesco Ltd. now owns 274,342 shares of the company’s stock valued at $28,570,000 after purchasing an additional 80,788 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial cut their price objective on shares of Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. BMO Capital Markets reduced their price target on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. Bank of America initiated coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price objective for the company. KeyCorp reduced their target price on Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, January 12th. Finally, Royal Bank of Canada decreased their target price on Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Polaris has an average rating of “Hold” and a consensus target price of $100.27.

Polaris Stock Up 0.2 %

NYSE PII opened at $83.92 on Monday. Polaris Inc. has a 52 week low of $82.00 and a 52 week high of $138.49. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.44 and a beta of 1.61. 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 company has a fifty day moving average of $91.61 and a two-hundred day moving average of $90.85.

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

Polaris Dividend Announcement

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

About Polaris

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.