nVerses Capital LLC Sells 2,300 Shares of Polaris Inc. (NYSE:PII)

nVerses Capital LLC lowered its stake in Polaris Inc. (NYSE:PII) by 82.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 500 shares of the company’s stock after selling 2,300 shares during the period. nVerses Capital LLC’s holdings in Polaris were worth $42,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Polaris by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after purchasing an additional 94,680 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Polaris by 22.6% during the 1st 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 buying an additional 11,009 shares during the period. Tidal Investments LLC bought a new stake in Polaris in the first quarter worth $1,065,000. Allspring Global Investments Holdings LLC boosted its stake in Polaris by 14.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after buying an additional 169 shares during the period. Finally, SG Americas Securities LLC increased its position in Polaris by 1,619.1% during the first quarter. SG Americas Securities LLC now owns 37,975 shares of the company’s stock valued at $3,802,000 after acquiring an additional 35,766 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Bank of America decreased their price objective on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird decreased their target price on Polaris from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Polaris from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Citigroup dropped 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. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Polaris presently has an average rating of “Hold” and an average target price of $89.18.

Polaris Stock Down 9.9 %

Shares of PII stock opened at $72.22 on Wednesday. Polaris Inc. has a fifty-two week low of $71.18 and a fifty-two week high of $100.91. The firm has a market capitalization of $4.03 billion, a PE ratio of 12.65, a P/E/G ratio of 7.59 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. The stock’s 50-day simple moving average is $82.25 and its 200-day simple moving average is $82.12.

Polaris (NYSE:PII) last posted its quarterly 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 business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the company posted $2.42 earnings per share. Polaris’s revenue for the quarter was down 11.5% compared to the same quarter last year. Equities analysts expect that Polaris Inc. will post 3.66 earnings per share for the current year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Tuesday, September 3rd. Polaris’s dividend payout ratio is currently 46.23%.

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.