VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $535,000 Investment in Polaris Inc. $PII

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Polaris Inc. (NYSE:PII) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,200 shares of the company’s stock, valued at approximately $535,000.

Several other large investors have also modified their holdings of the stock. State Street Corp increased its holdings in Polaris by 15.7% in the second quarter. State Street Corp now owns 3,137,866 shares of the company’s stock valued at $127,554,000 after buying an additional 426,482 shares during the last quarter. RWWM Inc. grew its position in shares of Polaris by 0.3% in the 2nd quarter. RWWM Inc. now owns 2,401,477 shares of the company’s stock worth $97,620,000 after acquiring an additional 6,428 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Polaris by 564.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,752,801 shares of the company’s stock worth $70,673,000 after acquiring an additional 1,489,157 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Polaris by 44.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,311,659 shares of the company’s stock valued at $53,326,000 after acquiring an additional 404,178 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Polaris by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,168,100 shares of the company’s stock valued at $47,483,000 after acquiring an additional 100,624 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Insider Activity at Polaris

In related news, SVP James P. Williams sold 4,554 shares of Polaris stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $67.53, for a total transaction of $307,531.62. Following the sale, the senior vice president directly owned 43,878 shares in the company, valued at $2,963,081.34. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PII. Loop Capital began coverage on shares of Polaris in a report on Thursday, November 13th. They issued a “hold” rating and a $59.00 price objective for the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $70.00 price target on shares of Polaris in a report on Wednesday, October 29th. Citigroup boosted their price objective on shares of Polaris from $60.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Robert W. Baird raised their target price on shares of Polaris from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Zacks Research downgraded Polaris from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has an average rating of “Hold” and an average price target of $55.25.

Polaris Trading Up 0.8%

Polaris stock opened at $67.04 on Tuesday. Polaris Inc. has a 52-week low of $30.92 and a 52-week high of $75.25. The company has a quick ratio of 0.36, a current ratio of 1.02 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -25.30, a PEG ratio of 2.36 and a beta of 1.14. The firm has a 50-day moving average price of $66.02 and a two-hundred day moving average price of $58.99.

Polaris (NYSE:PII) last announced its quarterly earnings results on Monday, October 27th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.68 billion. Polaris had a negative net margin of 2.17% and a positive return on equity of 3.89%. Polaris’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 earnings per share. Sell-side analysts expect that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.68 annualized dividend and a dividend yield of 4.0%. Polaris’s dividend payout ratio is presently -101.13%.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.