Shares of Polaris Inc. (NYSE:PII) acquired by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of Polaris Inc. (NYSE:PII – Free Report) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,021 shares of the company’s stock after purchasing an additional 277 shares during the quarter. Arizona State Retirement System’s holdings in Polaris were worth $1,176,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PII. Lantz Financial LLC boosted its holdings in Polaris by 0.8% in the first quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock valued at $1,480,000 after acquiring an additional 114 shares during the last quarter. JLB & Associates Inc. boosted its holdings in Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after acquiring an additional 120 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Polaris by 14.5% in the first 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. Linden Thomas Advisory Services LLC boosted its holdings in Polaris by 2.4% in the second quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock valued at $586,000 after acquiring an additional 172 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Polaris by 27.9% in the second 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 during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s shares.

Polaris stock down 0.1%

Shares of NYSE PII opened at $78.05 on Friday. Polaris Inc. has a 1 year low of $71.90 and a 1 year high of $108.02. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 7.04 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40, and a current ratio of 1.42. The stock’s 50-day simple moving average is $81.01 and its 200-day simple moving average is $84.61.

Polaris (NYSE:PII – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.89). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. In the same period last year, the firm earned $2.42 per share. As a group, equities analysts anticipate that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a $0.66 dividend. This represents an annualized dividend of $2.64 and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, September 3rd. Polaris’s dividend payout ratio is currently 38.71%.

Analysts set new price targets

A number of brokerage houses recently intervened on IPI. Robert W. Baird cut their price target on Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. KeyCorp cut their price objective on Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Thursday, July 25th. Roth Mkm lowered their price objective on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, BMO Capital Markets decreased their price objective on Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday. July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Polaris currently has a consensus rating of “Hold” and an average price target of $89.18, according to MarketBeat.

Read our latest IPI research report

Polaris profile

(Free Report)

Polaris Inc designs, engineers, manufactures and markets motorsport 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 motor-roadsters, quads and boats.

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