Truist Financial Corp Trims Holdings in Polaris Inc. (NYSE:PII)

Truist Financial Corp cut its holdings in Polaris Inc. (NYSE:PII) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,912 shares of the company’s stock after selling 6,977 shares during the quarter. Truist Financial Corp’s holdings in Polaris were worth $2,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PII. New England Capital Financial Advisors LLC purchased a new stake in Polaris during the 1st quarter valued at about $25,000. Creekmur Asset Management LLC purchased a new stake in Polaris during the 4th quarter valued at about $27,000. Bessemer Group Inc. grew its position in Polaris by 174.1% during the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after purchasing an additional 235 shares during the last quarter. Signaturefd LLC grew its position in Polaris by 1,931.3% during the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after purchasing an additional 618 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in Polaris during the 2nd quarter valued at about $57,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PII has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 24th. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Bank of America dropped their price target on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Citigroup dropped their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Polaris from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.18.

Polaris Price Performance

NYSE PII opened at $80.31 on Friday. Polaris Inc. has a 12 month low of $71.90 and a 12 month high of $100.91. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 7.30 and a beta of 1.51. The company’s 50 day moving average is $82.09 and its two-hundred day moving average is $83.29. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56.

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). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the business posted $2.42 EPS. Polaris’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts anticipate that Polaris Inc. will post 3.79 earnings per share for the current year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Tuesday, September 3rd. Polaris’s payout ratio is 38.71%.

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.