Pacer Advisors Inc. Cuts Stake in Polaris Inc. (NYSE:PII)

Pacer Advisors Inc. lessened its stake in shares of Polaris Inc. (NYSE:PII) by 99.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,010 shares of the company’s stock after selling 840,892 shares during the period. Pacer Advisors Inc.’s holdings in Polaris were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lantz Financial LLC raised its holdings in shares of Polaris by 0.8% during 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. increased its position in shares of Polaris by 0.5% during the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock worth $1,917,000 after purchasing an additional 120 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after purchasing an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Polaris by 2.4% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock valued at $586,000 after purchasing an additional 172 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Polaris by 1.2% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock worth $1,262,000 after purchasing an additional 187 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Price Performance

Shares of PII opened at $84.95 on Friday. The firm has a 50-day simple moving average of $81.95 and a two-hundred day simple moving average of $83.92. The stock has a market cap of $4.74 billion, a PE ratio of 12.46, a P/E/G ratio of 7.54 and a beta of 1.51. Polaris Inc. has a 1-year low of $71.90 and a 1-year high of $106.17. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40.

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

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.66 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.11%. Polaris’s dividend payout ratio is presently 38.71%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PII. Longbow Research reissued a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Citigroup lowered their target price on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial cut their price target on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 target price for the company in a report on Thursday, July 25th. Finally, Robert W. Baird reduced 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. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.18.

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.