Select Equity Group L.P. Decreases Stake in Polaris Inc. (NYSE:PII)

Select Equity Group L.P. lowered its holdings in Polaris Inc. (NYSE:PII) by 66.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,370 shares of the company’s stock after selling 1,318,719 shares during the quarter. Select Equity Group L.P.’s holdings in Polaris were worth $38,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Twin Tree Management LP purchased a new position in shares of Polaris in the fourth quarter worth $29,000. Larson Financial Group LLC raised its stake in shares of Polaris by 386.5% in the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 402 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Polaris by 295.4% in the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after purchasing an additional 387 shares during the last quarter. Signaturefd LLC raised its stake in shares of Polaris by 82.6% in the fourth quarter. Signaturefd LLC now owns 1,017 shares of the company’s stock worth $59,000 after purchasing an additional 460 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in shares of Polaris by 418.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,032 shares of the company’s stock worth $117,000 after purchasing an additional 1,640 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Stock Performance

Shares of PII opened at $39.24 on Friday. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The business has a 50-day simple moving average of $37.31 and a two-hundred day simple moving average of $50.11. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 13.95 and a beta of 1.05. Polaris Inc. has a 52 week low of $30.92 and a 52 week high of $88.00.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.01. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Polaris had a return on equity of 13.78% and a net margin of 1.54%. The business’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. On average, analysts expect that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date is Monday, June 2nd. Polaris’s payout ratio is 372.22%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PII. Truist Financial decreased their price target on Polaris from $55.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, April 14th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. Roth Mkm reduced their price objective on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Morgan Stanley reduced their price objective on Polaris from $31.00 to $29.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, BMO Capital Markets reduced their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Polaris presently has a consensus rating of “Hold” and an average target price of $45.36.

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.