Claro Advisors LLC Has $594,000 Stock Position in Polaris Inc. (NYSE:PII)

Claro Advisors LLC reduced its holdings in Polaris Inc. (NYSE:PII) by 6.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,139 shares of the company’s stock after selling 488 shares during the quarter. Claro Advisors LLC’s holdings in Polaris were worth $594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Polaris by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock worth $550,375,000 after purchasing an additional 48,179 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Polaris by 34.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 21,248 shares of the company’s stock worth $2,014,000 after acquiring an additional 5,411 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Polaris by 18.7% in the first quarter. Park Avenue Securities LLC now owns 3,016 shares of the company’s stock valued at $302,000 after acquiring an additional 475 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Polaris by 32.3% in the 1st quarter. Ballentine Partners LLC now owns 3,962 shares of the company’s stock valued at $397,000 after acquiring an additional 968 shares during the period. Finally, Calton & Associates Inc. grew its holdings in Polaris by 140.7% during the first quarter. Calton & Associates Inc. now owns 9,848 shares of the company’s stock worth $986,000 after purchasing an additional 5,757 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Polaris Stock Performance

PII opened at $82.55 on Friday. 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 52-week low of $71.90 and a 52-week high of $100.91. The firm has a market cap of $4.67 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 7.22 and a beta of 1.51. The business’s fifty day moving average is $82.40 and its 200-day moving average is $82.62.

Polaris (NYSE:PII) last released its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $2.18 billion. During the same period in the prior year, the business earned $2.42 earnings per share. Polaris’s quarterly revenue was down 11.5% compared to the same quarter last year. Sell-side analysts expect 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. Shareholders of record on Tuesday, September 3rd were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Tuesday, September 3rd. Polaris’s dividend payout ratio is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PII shares. Truist Financial cut 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. BMO Capital Markets reduced their price objective on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. KeyCorp dropped their price objective on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada reduced their target price on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, July 24th. Finally, Roth Mkm decreased their target price on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Polaris currently has an average rating of “Hold” and an average target price of $89.18.

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.