Polaris Inc. (NYSE:PII) Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of Polaris Inc. (NYSE:PII) by 44.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,387 shares of the company’s stock after purchasing an additional 5,021 shares during the period. Victory Capital Management Inc.’s holdings in Polaris were worth $1,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. National Bank of Canada FI grew its stake in Polaris by 27.9% during the 2nd quarter. National Bank of Canada FI now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 200 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in Polaris during the 2nd quarter valued at about $386,000. Consolidated Planning Corp purchased a new position in Polaris during the 2nd quarter valued at about $206,000. Versor Investments LP purchased a new position in Polaris during the 2nd quarter valued at about $916,000. Finally, nVerses Capital LLC purchased a new position in Polaris during the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Stock Up 2.9 %

Shares of Polaris stock opened at $85.86 on Friday. The stock has a market capitalization of $4.79 billion, a P/E ratio of 12.59, a PEG ratio of 7.42 and a beta of 1.51. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56. The stock has a 50 day moving average price of $81.73 and a two-hundred day moving average price of $84.30. Polaris Inc. has a 12-month low of $71.90 and a 12-month high of $107.96.

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

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.07%. Polaris’s dividend payout ratio is 38.71%.

Wall Street Analyst Weigh In

PII has been the subject of several recent research reports. Citigroup lowered their price target on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. BMO Capital Markets lowered their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. Truist Financial lowered 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. Roth Mkm lowered their price target on Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.