Connor Clark & Lunn Investment Management Ltd. Buys 14,830 Shares of Polaris Inc. (NYSE:PII)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Polaris Inc. (NYSE:PII) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,796 shares of the company’s stock after acquiring an additional 14,830 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.29% of Polaris worth $9,323,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC boosted its stake in Polaris by 534.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after purchasing an additional 294 shares during the period. Entropy Technologies LP acquired a new position in shares of Polaris in the 3rd quarter worth approximately $518,000. Victory Capital Management Inc. increased its holdings in Polaris by 167.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after purchasing an additional 27,375 shares in the last quarter. Natixis Advisors LLC increased its holdings in Polaris by 25.7% during the 3rd quarter. Natixis Advisors LLC now owns 23,660 shares of the company’s stock valued at $1,969,000 after purchasing an additional 4,831 shares in the last quarter. Finally, RIA Advisory Group LLC acquired a new stake in Polaris during the 3rd quarter valued at $387,000. Institutional investors own 88.06% of the company’s stock.

Polaris Stock Up 0.5 %

NYSE:PII opened at $42.42 on Friday. Polaris Inc. has a 12-month low of $39.79 and a 12-month high of $100.91. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.38 billion, a P/E ratio of 21.64, a P/E/G ratio of 13.95 and a beta of 1.54. The stock’s fifty day simple moving average is $48.94 and its 200-day simple moving average is $64.54.

Polaris (NYSE:PII) last posted its quarterly earnings results 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%. Equities research analysts expect that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.67 per share. The ex-dividend date is Monday, March 3rd. This is a positive change from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 6.32%. Polaris’s payout ratio is currently 136.73%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price target (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. Citigroup dropped their price target on Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Roth Mkm dropped their price target on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Royal Bank of Canada dropped their price target on Polaris from $65.00 to $54.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial dropped their price target on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris has an average rating of “Hold” and an average target price of $66.17.

Polaris 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.