Fifth Third Bancorp Grows Holdings in Polaris Inc. $PII

Fifth Third Bancorp increased its holdings in Polaris Inc. (NYSE:PII) by 1,201.4% in the 1st quarter, Holdings Channel reports. The fund owned 15,018 shares of the company’s stock after buying an additional 13,864 shares during the quarter. Fifth Third Bancorp’s holdings in Polaris were worth $818,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in Polaris during the fourth quarter worth about $27,000. Danske Bank A S increased its stake in shares of Polaris by 150.0% during the fourth quarter. Danske Bank A S now owns 500 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Polaris during the fourth quarter valued at approximately $40,000. Bard Associates Inc. purchased a new position in shares of Polaris during the fourth quarter valued at approximately $46,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Polaris during the fourth quarter valued at approximately $52,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup upped their price target on Polaris from $58.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Polaris in a research note on Tuesday, July 7th. Raymond James Financial reissued an “outperform” rating on shares of Polaris in a report on Wednesday, April 29th. Wells Fargo & Company increased their target price on Polaris from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Finally, Zacks Research upgraded Polaris from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.00.

Polaris Trading Up 2.2%

Shares of NYSE PII opened at $74.68 on Tuesday. The firm’s 50 day moving average price is $68.87 and its 200-day moving average price is $64.27. The company has a market cap of $4.25 billion, a PE ratio of -9.53 and a beta of 1.25. Polaris Inc. has a 52-week low of $47.14 and a 52-week high of $75.92. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.48 and a current ratio of 1.21.

Polaris (NYSE:PII) last posted its quarterly earnings results on Monday, April 27th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.56. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Polaris had a negative net margin of 6.13% and a positive return on equity of 5.91%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.90) earnings per share. On average, equities research analysts expect that Polaris Inc. will post 1.76 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.68 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.72 annualized dividend and a yield of 3.6%. Polaris’s dividend payout ratio is -34.69%.

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.