Gotham Asset Management LLC Sells 44,512 Shares of Polaris Inc. (NYSE:PII)

Gotham Asset Management LLC lessened its stake in shares of Polaris Inc. (NYSE:PII) by 65.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,480 shares of the company’s stock after selling 44,512 shares during the quarter. Gotham Asset Management LLC’s holdings in Polaris were worth $1,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PII. RWWM Inc. boosted its position in shares of Polaris by 377.4% during the 4th quarter. RWWM Inc. now owns 889,698 shares of the company’s stock worth $51,264,000 after purchasing an additional 703,322 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Polaris by 132.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company’s stock worth $51,909,000 after acquiring an additional 513,542 shares during the last quarter. Norges Bank acquired a new stake in shares of Polaris in the 4th quarter worth about $24,659,000. Capital World Investors raised its holdings in shares of Polaris by 6.7% in the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock worth $354,725,000 after acquiring an additional 388,050 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Polaris in the 4th quarter worth about $21,776,000. Institutional investors own 88.06% of the company’s stock.

Polaris Stock Up 2.6%

Shares of NYSE:PII opened at $39.24 on Friday. The firm has a fifty day moving average price of $37.31 and a two-hundred day moving average price of $50.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. Polaris Inc. has a one year low of $30.92 and a one year high of $88.00. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 13.95 and a beta of 1.05.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.01. Polaris had a net margin of 1.54% and a return on equity of 13.78%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned $0.23 EPS. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. Analysts anticipate that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.83%. The ex-dividend date of this dividend is Monday, June 2nd. Polaris’s dividend payout ratio (DPR) is currently 372.22%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Polaris from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. DA Davidson decreased their price target on shares of Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Morgan Stanley decreased their price target on shares of Polaris from $31.00 to $29.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Truist Financial cut their price objective on shares of Polaris from $55.00 to $30.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, Citigroup downgraded shares of Polaris from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $49.00 to $33.00 in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.36.

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.