Chase Investment Counsel Corp Acquires New Shares in Polaris Inc. (NYSE:PII)

Chase Investment Counsel Corp acquired a new position in shares of Polaris Inc. (NYSE:PII) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,000 shares of the company’s stock, valued at approximately $852,000.

Several other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in Polaris by 8.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after buying an additional 202,794 shares during the period. AQR Capital Management LLC raised its stake in Polaris by 151.9% during the 3rd quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after buying an additional 255,777 shares during the period. Northern Trust Corp raised its stake in Polaris by 1.4% during the 3rd quarter. Northern Trust Corp now owns 406,947 shares of the company’s stock worth $42,379,000 after buying an additional 5,493 shares during the period. Brown Advisory Inc. raised its stake in Polaris by 2.7% during the 3rd quarter. Brown Advisory Inc. now owns 366,241 shares of the company’s stock worth $38,140,000 after buying an additional 9,514 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Polaris by 276.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock worth $37,845,000 after buying an additional 266,887 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Price Performance

PII traded up $2.87 during trading on Monday, hitting $86.68. 293,036 shares of the stock traded hands, compared to its average volume of 710,319. The business has a 50 day moving average price of $92.40 and a 200 day moving average price of $91.30. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.44 and a beta of 1.60. Polaris Inc. has a twelve month low of $82.00 and a twelve month high of $138.49. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.42.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Equities research analysts forecast that Polaris Inc. will post 8 earnings per share for the current fiscal year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.05%. Polaris’s dividend payout ratio is 38.71%.

Analysts Set New Price Targets

PII has been the topic of several recent research reports. DA Davidson reissued a “neutral” rating and issued a $80.00 price target on shares of Polaris in a research note on Tuesday, March 5th. Citigroup dropped their price target on Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. BMO Capital Markets dropped their price target on Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. Morgan Stanley raised Polaris from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $113.00 in a research note on Wednesday, January 17th. Finally, Robert W. Baird dropped their price target on Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Polaris currently has a consensus rating of “Hold” and an average target price of $100.27.

Polaris Company 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.