Truvestments Capital LLC Sells 370 Shares of Polaris Inc. (NYSE:PII)

Truvestments Capital LLC trimmed its position in Polaris Inc. (NYSE:PII) by 17.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,802 shares of the company’s stock after selling 370 shares during the period. Truvestments Capital LLC’s holdings in Polaris were worth $104,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PII. Raymond James Financial Inc. bought a new position in shares of Polaris in the 4th quarter valued at $21,776,000. Bank of New York Mellon Corp increased its holdings in Polaris by 45.3% in the fourth quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after purchasing an additional 241,926 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Polaris by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after purchasing an additional 171,366 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Polaris in the third quarter valued at $12,670,000. Finally, Weiss Asset Management LP acquired a new stake in Polaris in the third quarter valued at $10,844,000. 88.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PII. Morgan Stanley restated an “equal weight” rating and issued a $60.00 price objective (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. BMO Capital Markets decreased their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, January 29th. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Truist Financial decreased their price target on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Polaris presently has a consensus rating of “Hold” and an average target price of $66.17.

Polaris Stock Performance

Shares of PII opened at $44.38 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The stock has a 50-day moving average of $49.48 and a 200-day moving average of $64.84. The company has a market cap of $2.49 billion, a PE ratio of 22.64, a P/E/G ratio of 13.95 and a beta of 1.54. Polaris Inc. has a one year low of $39.79 and a one year high of $100.91.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. On average, equities research analysts predict that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.67 dividend. This is a boost from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date is Monday, March 3rd. This represents a $2.68 annualized dividend and a yield of 6.04%. Polaris’s dividend payout ratio (DPR) is presently 136.73%.

Polaris Company Profile

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.