CoreCap Advisors LLC Acquires New Holdings in Polaris Inc. (NYSE:PII)

CoreCap Advisors LLC bought a new position in Polaris Inc. (NYSE:PII) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,521 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Trust Asset Management LLC raised its stake in Polaris by 51.2% during the 4th quarter. Global Trust Asset Management LLC now owns 1,105 shares of the company’s stock worth $105,000 after buying an additional 374 shares during the period. Mutual Advisors LLC acquired a new position in shares of Polaris in the 4th quarter valued at approximately $207,000. SG Americas Securities LLC bought a new stake in Polaris during the 4th quarter worth approximately $209,000. Lantz Financial LLC raised its holdings in Polaris by 3.7% during the 4th quarter. Lantz Financial LLC now owns 14,670 shares of the company’s stock worth $1,390,000 after buying an additional 519 shares during the period. Finally, Avity Investment Management Inc. bought a new position in Polaris in the fourth quarter valued at approximately $589,000. 88.06% of the stock is owned by institutional investors.

Polaris Trading Up 3.9 %

Polaris stock opened at $99.08 on Thursday. The firm has a 50-day moving average of $92.13 and a 200-day moving average of $93.08. Polaris Inc. has a one year low of $82.00 and a one year high of $138.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.46. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 11.39 and a beta of 1.59.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, January 30th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.69). Polaris had a net margin of 5.63% and a return on equity of 40.98%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business posted $3.46 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities analysts expect that Polaris Inc. will post 7.98 earnings per share for the current fiscal year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 2.66%. Polaris’s dividend payout ratio (DPR) is 30.34%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PII shares. Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $113.00 in a research report on Wednesday, January 17th. BMO Capital Markets lowered their target price on Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Wednesday, January 31st. DA Davidson reiterated a “neutral” rating and set a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. Truist Financial lowered their target price on Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a report on Wednesday, January 31st. Finally, Royal Bank of Canada increased their target price on Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.44.

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.