Van ECK Associates Corp Purchases 10,664 Shares of Polaris Inc. (NYSE:PII)

Van ECK Associates Corp boosted its position in Polaris Inc. (NYSE:PII) by 35.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,966 shares of the company’s stock after purchasing an additional 10,664 shares during the period. Van ECK Associates Corp’s holdings in Polaris were worth $3,410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake 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 purchasing an additional 169 shares in the last quarter. Private Advisor Group LLC increased its position in Polaris by 53.0% in the first quarter. Private Advisor Group LLC now owns 4,166 shares of the company’s stock worth $417,000 after buying an additional 1,444 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Polaris by 28.5% in the first quarter. BNP Paribas Financial Markets now owns 21,142 shares of the company’s stock worth $2,117,000 after buying an additional 4,688 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Polaris by 0.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 46,089 shares of the company’s stock valued at $4,614,000 after buying an additional 231 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Polaris by 47.7% during the 1st quarter. Empowered Funds LLC now owns 12,804 shares of the company’s stock valued at $1,282,000 after acquiring an additional 4,133 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Trading Down 1.2 %

Shares of Polaris stock opened at $68.93 on Friday. Polaris Inc. has a twelve month low of $68.45 and a twelve month high of $100.91. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The business has a 50-day moving average price of $78.92 and a 200-day moving average price of $80.43. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 7.47 and a beta of 1.52.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business earned $2.71 EPS. The business’s quarterly revenue was down 23.4% compared to the same quarter last year. Equities research analysts anticipate that Polaris Inc. will post 3.22 EPS for the current fiscal year.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is 73.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PII shares. Roth Mkm decreased their target price on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, October 23rd. BMO Capital Markets dropped their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Citigroup cut their price target on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Bank of America lowered their price objective on Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has an average rating of “Hold” and a consensus target price of $87.09.

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.