Meiji Yasuda Asset Management Co Ltd. Has $6.70 Million Position in Polaris Inc. (NYSE:PII)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in Polaris Inc. (NYSE:PII) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,302 shares of the company’s stock after acquiring an additional 14,790 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Polaris were worth $6,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI increased its position in Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 shares during the last quarter. Nordea Investment Management AB increased its holdings in Polaris by 0.6% in the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after buying an additional 183 shares during the last quarter. Quarry LP raised its position in Polaris by 187.4% during the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Polaris by 7.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock valued at $208,000 after acquiring an additional 263 shares during the last quarter. Finally, Xponance Inc. grew its position in Polaris by 5.1% in the fourth quarter. Xponance Inc. now owns 5,956 shares of the company’s stock worth $343,000 after acquiring an additional 288 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Trading Up 2.2 %

Shares of PII stock opened at $42.91 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. Polaris Inc. has a 1 year low of $39.29 and a 1 year high of $100.91. The firm’s fifty day simple moving average is $47.01 and its 200 day simple moving average is $62.23. The firm has a market capitalization of $2.41 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. As a group, sell-side analysts predict that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.67 per share. The ex-dividend date was Monday, March 3rd. This is a boost from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.25%. Polaris’s payout ratio is currently 136.73%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PII. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Roth Mkm decreased their price target on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. BMO Capital Markets cut their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 29th. Finally, Citigroup cut Polaris from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $49.00 to $33.00 in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Polaris has a consensus rating of “Hold” and a consensus price target of $59.83.

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.