Polaris Inc. (NYSE:PII) Holdings Trimmed by Avity Investment Management Inc.

Avity Investment Management Inc. decreased its holdings in shares of Polaris Inc. (NYSE:PII) by 46.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the company’s stock after selling 2,920 shares during the quarter. Avity Investment Management Inc.’s holdings in Polaris were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PII. Wynn Capital LLC boosted its holdings in shares of Polaris by 7.7% during the third quarter. Wynn Capital LLC now owns 7,804 shares of the company’s stock worth $650,000 after purchasing an additional 558 shares during the period. CWM LLC boosted its stake in shares of Polaris by 67.7% during the 3rd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $283,000 after buying an additional 1,371 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Polaris by 60.7% in the third quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock worth $1,432,000 after acquiring an additional 6,500 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Polaris during the second quarter worth $579,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Polaris by 34.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,164 shares of the company’s stock valued at $561,000 after purchasing an additional 1,822 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Stock Performance

PII stock traded up $0.63 on Friday, reaching $80.94. 393,626 shares of the company were exchanged, compared to its average volume of 720,948. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. Polaris Inc. has a 12 month low of $71.90 and a 12 month high of $100.91. The stock’s fifty day moving average price is $82.13 and its 200 day moving average price is $83.19. The firm has a market capitalization of $4.57 billion, a PE ratio of 11.86, a PEG ratio of 7.13 and a beta of 1.51.

Polaris (NYSE:PII) last released 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). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $2.42 earnings per share. On average, research analysts anticipate that Polaris Inc. will post 3.79 EPS for the current fiscal year.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.26%. Polaris’s dividend payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial cut their price target on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. KeyCorp decreased their target price on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird dropped their price target on shares of Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets decreased their price objective on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Finally, Roth Mkm cut their target price on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.18.

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.