Swiss National Bank Decreases Stock Holdings in Polaris Inc. (NYSE:PII)

Swiss National Bank lowered its stake in Polaris Inc. (NYSE:PII) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 117,800 shares of the company’s stock after selling 1,000 shares during the quarter. Swiss National Bank’s holdings in Polaris were worth $14,246,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Polaris by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,885,506 shares of the company’s stock valued at $562,950,000 after acquiring an additional 89,717 shares in the last quarter. BlackRock Inc. boosted its holdings in Polaris by 0.4% in the first quarter. BlackRock Inc. now owns 4,868,936 shares of the company’s stock valued at $538,650,000 after acquiring an additional 17,165 shares in the last quarter. State Street Corp boosted its holdings in Polaris by 14.8% in the first quarter. State Street Corp now owns 4,136,582 shares of the company’s stock valued at $435,665,000 after acquiring an additional 532,947 shares in the last quarter. Capital World Investors boosted its holdings in Polaris by 33.2% in the first quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock valued at $389,534,000 after acquiring an additional 922,101 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Polaris by 22.4% in the second quarter. Van ECK Associates Corp now owns 2,238,254 shares of the company’s stock valued at $270,672,000 after acquiring an additional 410,140 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Polaris Stock Performance

Shares of Polaris stock opened at $91.55 on Tuesday. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 8.95 and a beta of 1.69. The firm’s 50-day moving average is $96.16 and its 200 day moving average is $110.28. Polaris Inc. has a 1 year low of $84.15 and a 1 year high of $138.49. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.25 and a quick ratio of 0.41.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 24th. The company reported $2.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.71. Polaris had a return on equity of 51.02% and a net margin of 6.57%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm earned $3.25 EPS. Polaris’s revenue was down 3.9% on a year-over-year basis. Sell-side analysts anticipate that Polaris Inc. will post 9.78 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, November 30th. Polaris’s dividend payout ratio (DPR) is 25.42%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TheStreet cut shares of Polaris from a “b-” rating to a “c+” rating in a report on Thursday, November 2nd. Royal Bank of Canada dropped their target price on shares of Polaris from $121.00 to $108.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 25th. KeyCorp dropped their target price on shares of Polaris from $145.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. StockNews.com assumed coverage on shares of Polaris in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Truist Financial dropped their target price on shares of Polaris from $125.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, October 25th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.77.

Polaris Profile

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.