The Manufacturers Life Insurance Company Has $73.03 Million Stake in BRP Inc. (NASDAQ:DOOO)

The Manufacturers Life Insurance Company increased its position in shares of BRP Inc. (NASDAQ:DOOO) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,226,226 shares of the company’s stock after purchasing an additional 150,039 shares during the period. The Manufacturers Life Insurance Company’s holdings in BRP were worth $73,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of BRP by 350.0% in the third quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after acquiring an additional 322 shares during the period. Bank of New York Mellon Corp raised its stake in BRP by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock worth $1,964,000 after purchasing an additional 520 shares in the last quarter. Dnca Finance bought a new stake in BRP in the 2nd quarter valued at about $66,000. Addenda Capital Inc. grew its position in shares of BRP by 9.9% during the 2nd quarter. Addenda Capital Inc. now owns 11,636 shares of the company’s stock worth $745,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Spartan Fund Management Inc. bought a new position in shares of BRP during the third quarter worth approximately $72,000.

BRP Stock Up 1.7 %

Shares of NASDAQ DOOO opened at $48.38 on Thursday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 20.07 and a beta of 2.07. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99. BRP Inc. has a 12 month low of $46.85 and a 12 month high of $75.59. The stock has a 50-day moving average price of $54.08 and a two-hundred day moving average price of $62.01.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. BRP had a net margin of 2.78% and a return on equity of 79.58%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. As a group, analysts forecast that BRP Inc. will post 2.27 earnings per share for the current fiscal year.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, September 27th. BRP’s dividend payout ratio (DPR) is 25.73%.

Analyst Ratings Changes

DOOO has been the topic of a number of analyst reports. UBS Group reduced their price target on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Cibc World Mkts downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Citigroup dropped their target price on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $97.00.

BRP Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.