Chase Investment Counsel Corp Makes New Investment in Polaris Inc. (NYSE:PII)

Chase Investment Counsel Corp purchased a new position in Polaris Inc. (NYSE:PII) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,000 shares of the company’s stock, valued at approximately $852,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PII. AE Wealth Management LLC boosted its position in shares of Polaris by 37.3% during the third quarter. AE Wealth Management LLC now owns 2,993 shares of the company’s stock worth $312,000 after acquiring an additional 813 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Polaris by 172.9% during the third quarter. IFP Advisors Inc now owns 1,078 shares of the company’s stock worth $112,000 after acquiring an additional 683 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Polaris by 6.1% during the third quarter. DAVENPORT & Co LLC now owns 2,620 shares of the company’s stock worth $273,000 after acquiring an additional 150 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Polaris during the third quarter worth $466,000. Finally, Golden State Equity Partners boosted its position in shares of Polaris by 17.5% during the third quarter. Golden State Equity Partners now owns 3,200 shares of the company’s stock worth $333,000 after acquiring an additional 476 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Price Performance

Shares of Polaris stock traded up $2.87 during trading hours on Monday, reaching $86.68. 293,036 shares of the company’s stock were exchanged, compared to its average volume of 710,319. Polaris Inc. has a 1 year low of $82.00 and a 1 year high of $138.49. The company has a market capitalization of $4.90 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. The business has a fifty day moving average of $92.40 and a two-hundred day moving average of $91.30. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Polaris’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, research analysts predict that Polaris Inc. will post 8 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, June 3rd. Polaris’s dividend payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PII shares. Citigroup dropped their target price on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Bank of America assumed coverage on shares of Polaris in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 target price on the stock. BMO Capital Markets reduced their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Polaris from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, DA Davidson reiterated a “neutral” rating and set a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.27.

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.