Amalgamated Bank Reduces Stock Position in Polaris Inc. (NYSE:PII)

Amalgamated Bank cut its stake in Polaris Inc. (NYSE:PII) by 9.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,054 shares of the company’s stock after selling 3,377 shares during the period. Amalgamated Bank’s holdings in Polaris were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PII. Norges Bank purchased a new stake in shares of Polaris in the fourth quarter valued at approximately $12,168,000. PNC Financial Services Group Inc. grew its position in shares of Polaris by 34.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 21,248 shares of the company’s stock valued at $2,014,000 after purchasing an additional 5,411 shares in the last quarter. Wells Fargo & Company MN grew its position in Polaris by 4.9% in the fourth quarter. Wells Fargo & Company MN now owns 306,963 shares of the company’s stock worth $29,091,000 after acquiring an additional 14,310 shares during the period. Trexquant Investment LP purchased a new position in Polaris in the fourth quarter worth approximately $1,499,000. Finally, Franklin Resources Inc. grew its position in Polaris by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 62,109 shares of the company’s stock worth $5,886,000 after acquiring an additional 531 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PII. Bank of America lowered their price objective on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Longbow Research reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Thursday, July 25th. Royal Bank of Canada lowered their price objective on Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial lowered their price objective on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $89.18.

Polaris Stock Up 2.7 %

Shares of NYSE PII opened at $84.92 on Wednesday. The stock has a market cap of $4.80 billion, a P/E ratio of 12.45, a PEG ratio of 7.42 and a beta of 1.51. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. Polaris Inc. has a 12-month low of $71.90 and a 12-month high of $106.17. The business’s fifty day simple moving average is $81.93 and its 200-day simple moving average is $84.02.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.89). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 earnings per share. As a group, equities analysts predict that Polaris Inc. will post 3.79 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Tuesday, September 3rd. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

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.