Meiji Yasuda Asset Management Co Ltd. Acquires 20,621 Shares of Polaris Inc. (NYSE:PII)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Polaris Inc. (NYSE:PII) by 24.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,437 shares of the company’s stock after buying an additional 20,621 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned about 0.18% of Polaris worth $8,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PII. Lantz Financial LLC raised its stake in shares of Polaris by 0.8% in the first quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock worth $1,480,000 after acquiring an additional 114 shares during the last quarter. JLB & Associates Inc. lifted its holdings in Polaris by 0.5% during the 2nd quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock worth $1,917,000 after buying an additional 120 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after buying an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in Polaris by 2.4% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock valued at $586,000 after buying an additional 172 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of Polaris by 1.2% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PII. Roth Mkm dropped their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. KeyCorp reduced their price target on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Truist Financial decreased their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Polaris has a consensus rating of “Hold” and an average target price of $89.18.

Polaris Stock Performance

Shares of PII opened at $84.62 on Wednesday. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 6.92 and a beta of 1.51. The firm has a fifty day simple moving average of $81.32 and a 200 day simple moving average of $84.37. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. Polaris Inc. has a 12 month low of $71.90 and a 12 month high of $108.02.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the company posted $2.42 earnings per share. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. Research analysts forecast that Polaris Inc. will post 3.79 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.12%. The ex-dividend date was Tuesday, September 3rd. Polaris’s dividend payout ratio is 38.71%.

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.