Xponance Inc. Increases Stake in Polaris Inc. (NYSE:PII)

Xponance Inc. grew its position in Polaris Inc. (NYSE:PII) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,660 shares of the company’s stock after acquiring an additional 670 shares during the quarter. Xponance Inc.’s holdings in Polaris were worth $821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PII. Qube Research & Technologies Ltd raised its stake in shares of Polaris by 276.5% in the third quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after acquiring an additional 266,887 shares during the period. AQR Capital Management LLC grew its holdings in shares of Polaris by 151.9% in the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after purchasing an additional 255,777 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Polaris by 8.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after purchasing an additional 202,794 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Polaris by 4,928.2% in the third quarter. Lazard Asset Management LLC now owns 138,275 shares of the company’s stock worth $14,399,000 after purchasing an additional 135,525 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Polaris by 41.7% in the third quarter. Invesco Ltd. now owns 274,342 shares of the company’s stock worth $28,570,000 after purchasing an additional 80,788 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PII shares. Citigroup cut their price target on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday. DA Davidson restated a “neutral” rating and issued a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Monday, April 8th. Robert W. Baird cut their price target on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Truist Financial dropped their target price on shares of Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Polaris has a consensus rating of “Hold” and a consensus target price of $100.27.

Polaris Stock Down 2.2 %

NYSE:PII opened at $83.36 on Friday. Polaris Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $138.49. The stock has a market capitalization of $4.71 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.50 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. The company’s 50-day simple moving average is $92.75 and its 200-day simple moving average is $91.57.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business earned $2.05 EPS. The company’s revenue was down 20.3% compared to the same quarter last year. On average, equities analysts anticipate that Polaris Inc. will post 7.93 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.66 dividend. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, February 29th. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

About Polaris

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.