Code Waechter LLC Invests $216,000 in Polaris Inc. (NYSE:PII)

Code Waechter LLC acquired a new position in shares of Polaris Inc. (NYSE:PII) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 2,589 shares of the company’s stock, valued at approximately $216,000.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Polaris by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after buying an additional 94,680 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Polaris by 22.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock worth $6,616,000 after acquiring an additional 11,009 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Polaris in the 1st quarter valued at approximately $1,065,000. Allspring Global Investments Holdings LLC boosted its stake in Polaris by 14.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after acquiring an additional 169 shares during the last quarter. Finally, Alaska Permanent Fund Corp grew its stake in Polaris by 209.4% in the first quarter. Alaska Permanent Fund Corp now owns 14,525 shares of the company’s stock worth $1,454,000 after purchasing an additional 9,830 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PII. Truist Financial lowered their target price on Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Longbow Research restated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. DA Davidson upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Thursday, July 25th. Roth Mkm reduced their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup reduced their price target on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.18.

Polaris Trading Up 0.8 %

PII stock traded up $0.63 during midday trading on Friday, reaching $80.94. The company’s stock had a trading volume of 393,626 shares, compared to its average volume of 720,948. The stock has a market cap of $4.57 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 7.13 and a beta of 1.51. The business’s 50-day simple moving average is $82.13 and its 200-day simple moving average is $83.19. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56. Polaris Inc. has a 52 week low of $71.90 and a 52 week high of $100.91.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business posted $2.42 EPS. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that Polaris Inc. will post 3.79 EPS for the current year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Tuesday, September 3rd. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

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.