5 Best Undervalued Dividend Stocks to Buy Now

Page 5 of 5

1. Polaris Inc. (NYSE:PII)

P/E Ratio: 13.74

Polaris Inc. (NYSE:PII) is an American automotive manufacturer of motorcycles and all-terrain vehicles. The company is one of the best dividend stocks as it maintains a 27-year streak of consistent dividend growth. It currently pays a quarterly dividend of $0.64 per share and has a dividend yield of 2.71%, as of October 24.

In the second quarter of 2022, Polaris Inc. (NYSE:PII) paid $76 million to shareholders in dividends. The company had $314 million available in cash and cash equivalents at the end of June, up from $278 million six months ago.

In October, Baird reiterated its Outperform rating on Polaris Inc. (NYSE:PII) with a $120 price target. The firm appreciated the company’s retail availability but expects it to create a balance between supply and demand.

At the end of Q2 2022, 13 of the hedge funds tracked by Insider Monkey owned investments in Polaris Inc. (NYSE:PII), the same as in the previous quarter. The collective value of those stakes was $147 million, compared with $121 million worth of stakes owned by hedge funds in Q1 2022.

You can also take a look at 10 Best European Dividend Stocks to Buy Now and 12 Best Energy Dividend Stocks to Buy Now

Page 5 of 5