Raymond James Financial Inc. Purchases New Stake in Polaris Inc. (NYSE:PII)

Raymond James Financial Inc. bought a new position in Polaris Inc. (NYSE:PII) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 377,919 shares of the company’s stock, valued at approximately $21,776,000. Raymond James Financial Inc. owned about 0.68% of Polaris at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PII. Venturi Wealth Management LLC increased its position in Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares during the last quarter. Entropy Technologies LP acquired a new position in Polaris in the 3rd quarter worth about $518,000. Victory Capital Management Inc. increased its position in Polaris by 167.1% in the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock worth $3,643,000 after purchasing an additional 27,375 shares during the last quarter. Natixis Advisors LLC increased its position in Polaris by 25.7% in the 3rd quarter. Natixis Advisors LLC now owns 23,660 shares of the company’s stock worth $1,969,000 after purchasing an additional 4,831 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new position in Polaris in the 3rd quarter worth about $387,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Stock Up 0.5 %

NYSE PII opened at $42.42 on Friday. Polaris Inc. has a 52 week low of $39.79 and a 52 week high of $100.91. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The stock has a market capitalization of $2.38 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. The stock has a fifty day moving average of $48.63 and a 200-day moving average of $64.09.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. On average, equities research analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.67 dividend. This is a positive change from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is currently 136.73%.

Analyst Ratings Changes

PII has been the topic of several research reports. Citigroup dropped their target price on Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Truist Financial decreased their price target on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Roth Mkm decreased their price target on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. DA Davidson decreased their price target on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.17.

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.