Polaris Inc. (NYSE:PII) Shares Sold by Comerica Bank

Comerica Bank trimmed its holdings in Polaris Inc. (NYSE:PII) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,864 shares of the company’s stock after selling 1,044 shares during the period. Comerica Bank’s holdings in Polaris were worth $1,145,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its stake in Polaris by 74.0% in the 4th quarter. Quantbot Technologies LP now owns 35,944 shares of the company’s stock valued at $2,071,000 after acquiring an additional 15,283 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Polaris by 14.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 116,302 shares of the company’s stock worth $6,701,000 after acquiring an additional 14,790 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Polaris during the 4th quarter worth about $21,776,000. State of Alaska Department of Revenue lifted its holdings in shares of Polaris by 371.7% during the 4th quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock worth $1,669,000 after acquiring an additional 22,835 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Polaris during the 4th quarter worth about $611,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Stock Up 2.3%

Shares of NYSE:PII opened at $36.34 on Monday. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris Inc. has a 52-week low of $30.92 and a 52-week high of $90.62. The company has a 50 day moving average of $37.95 and a two-hundred day moving average of $50.99. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 13.95 and a beta of 1.05.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.01. Polaris had a net margin of 1.54% and a return on equity of 13.78%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $0.23 earnings per share. Polaris’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, analysts forecast that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date is Monday, June 2nd. Polaris’s payout ratio is currently 372.22%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of Polaris from a “hold” rating to a “sell” rating in a report on Thursday. Bank of America cut their price target on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Truist Financial cut their price target on shares of Polaris from $55.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada cut their price target on shares of Polaris from $54.00 to $34.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 30th. Finally, Roth Mkm cut their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Polaris has an average rating of “Hold” and an average target price of $45.36.

Polaris 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.