Handelsbanken Fonder AB Has $1.43 Million Holdings in Polaris Inc. (NYSE:PII)

Handelsbanken Fonder AB lifted its stake in Polaris Inc. (NYSE:PII) by 60.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,200 shares of the company’s stock after acquiring an additional 6,500 shares during the period. Handelsbanken Fonder AB’s holdings in Polaris were worth $1,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Polaris by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after purchasing an additional 94,680 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Polaris by 22.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock valued at $6,616,000 after acquiring an additional 11,009 shares during the period. Tidal Investments LLC acquired a new position in Polaris in the 1st quarter valued at approximately $1,065,000. Allspring Global Investments Holdings LLC lifted its position in shares of Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after acquiring an additional 169 shares during the period. Finally, Alaska Permanent Fund Corp grew its holdings in shares of Polaris by 209.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 14,525 shares of the company’s stock worth $1,454,000 after purchasing an additional 9,830 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

PII has been the subject of a number of recent research reports. Royal Bank of Canada cut their target price on Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 24th. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. DA Davidson upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Thursday, July 25th. KeyCorp dropped their price target on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a research report 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 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.18.

Polaris Stock Performance

Shares of NYSE:PII opened at $80.31 on Friday. The business has a fifty day moving average of $82.09 and a 200-day moving average of $83.29. The firm has a market cap of $4.48 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 7.30 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. Polaris Inc. has a twelve month low of $71.90 and a twelve month high of $100.91.

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

Polaris Announces Dividend

The business also recently announced 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 3.29%. Polaris’s payout ratio is currently 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.