Hidden Cove Wealth Management LLC Makes New $432,000 Investment in Polaris Inc. (NYSE:PII)

Hidden Cove Wealth Management LLC acquired a new stake in Polaris Inc. (NYSE:PII) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,506 shares of the company’s stock, valued at approximately $432,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI raised its holdings in Polaris by 19.9% in the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after acquiring an additional 183 shares in the last quarter. Nordea Investment Management AB grew its holdings in Polaris by 0.6% during the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after acquiring an additional 183 shares in the last quarter. Quarry LP increased its position in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares during the last quarter. Claro Advisors LLC raised its holdings in shares of Polaris by 3.3% in the 3rd quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock valued at $656,000 after purchasing an additional 254 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Polaris by 7.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock worth $208,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Stock Down 0.5 %

Shares of NYSE:PII opened at $44.15 on Thursday. Polaris Inc. has a 1-year low of $42.85 and a 1-year high of $100.91. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The stock has a market cap of $2.46 billion, a P/E ratio of 22.53, a P/E/G ratio of 13.80 and a beta of 1.50. The firm has a fifty day moving average price of $55.28 and a 200 day moving average price of $69.79.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. Sell-side analysts predict that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.67 dividend. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 6.07%. The ex-dividend date of this dividend is Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is 134.69%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird dropped their target price on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. Truist Financial dropped their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $60.00 target price (down previously from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Citigroup dropped their price target on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Roth Mkm cut their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.17.

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.