AXQ Capital LP Boosts Stake in Polaris Inc. (NYSE:PII)

AXQ Capital LP grew its holdings in shares of Polaris Inc. (NYSE:PII) by 92.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,120 shares of the company’s stock after purchasing an additional 7,725 shares during the quarter. AXQ Capital LP’s holdings in Polaris were worth $929,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PII. National Bank of Canada FI increased its holdings in Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after purchasing an additional 183 shares in the last quarter. Nordea Investment Management AB increased its holdings in Polaris by 0.6% in the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock valued at $1,676,000 after purchasing an additional 183 shares in the last quarter. Quarry LP increased its holdings in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Polaris by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock valued at $208,000 after purchasing an additional 263 shares in the last quarter. Finally, Xponance Inc. increased its holdings in Polaris by 5.1% in the 4th quarter. Xponance Inc. now owns 5,956 shares of the company’s stock valued at $343,000 after purchasing an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

PII has been the subject of several recent analyst reports. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Roth Mkm lowered their target price on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Citigroup downgraded Polaris from a “neutral” rating to a “sell” rating and lowered their target price for the company from $49.00 to $33.00 in a research note on Thursday. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird lowered their target price on Polaris from $64.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Polaris currently has an average rating of “Hold” and a consensus price target of $59.83.

Polaris Stock Performance

Shares of NYSE PII opened at $41.95 on Friday. The firm’s 50-day moving average price is $47.26 and its two-hundred day moving average price is $62.78. The stock has a market capitalization of $2.35 billion, a P/E ratio of 21.40, a P/E/G ratio of 13.95 and a beta of 1.54. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris Inc. has a 52-week low of $39.29 and a 52-week high of $100.91.

Polaris (NYSE:PII) last issued its quarterly earnings data 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%. As a group, sell-side analysts forecast that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.67 per share. This is a boost from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.68 annualized dividend and a yield of 6.39%. Polaris’s payout ratio is presently 136.73%.

About Polaris

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.