State of New Jersey Common Pension Fund D Cuts Stock Holdings in Polaris Inc. (NYSE:PII)

State of New Jersey Common Pension Fund D trimmed its position in shares of Polaris Inc. (NYSE:PII) by 23.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,289 shares of the company’s stock after selling 7,303 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Polaris were worth $1,824,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Capital World Investors increased its holdings in Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after acquiring an additional 160,918 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 acquiring an additional 94,680 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Polaris in the 1st quarter worth $108,890,000. LSV Asset Management increased its holdings in Polaris by 29.9% in the 1st quarter. LSV Asset Management now owns 340,050 shares of the company’s stock worth $34,046,000 after acquiring an additional 78,178 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Polaris by 4.9% in the 4th 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 in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Trading Down 2.0 %

Shares of PII stock opened at $82.66 on Tuesday. The company’s 50-day moving average price is $81.93 and its 200-day moving average price is $84.08. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 7.42 and a beta of 1.51. Polaris Inc. has a twelve month low of $71.90 and a twelve month high of $106.17.

Polaris (NYSE:PII) last posted 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). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the company earned $2.42 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, equities analysts predict that Polaris Inc. will post 3.79 earnings per share for the current year.

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.66 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.19%. Polaris’s payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup lowered their target price on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Truist Financial lowered their target price on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. KeyCorp lowered their target price on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Finally, BMO Capital Markets lowered their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.18.

Polaris 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.