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

The Manufacturers Life Insurance Company increased its position in BRP Inc. (NASDAQ:DOOO) by 13.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,226,226 shares of the company’s stock after purchasing an additional 150,039 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.68% of BRP worth $73,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of BRP by 350.0% in the third quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after acquiring an additional 322 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in BRP by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after buying an additional 520 shares in the last quarter. Dnca Finance acquired a new position in shares of BRP in the second quarter valued at approximately $66,000. Addenda Capital Inc. increased its position in shares of BRP by 9.9% during the second quarter. Addenda Capital Inc. now owns 11,636 shares of the company’s stock worth $745,000 after acquiring an additional 1,053 shares in the last quarter. Finally, Spartan Fund Management Inc. acquired a new stake in shares of BRP during the third quarter worth $72,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Desjardins downgraded BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Citigroup reduced their target price on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 9th. National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus cut shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.00.

BRP Trading Up 1.7 %

BRP stock opened at $48.38 on Thursday. The stock has a 50-day simple moving average of $54.08 and a 200 day simple moving average of $62.01. The stock has a market capitalization of $3.53 billion, a P/E ratio of 20.07 and a beta of 2.07. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. BRP Inc. has a 52 week low of $46.85 and a 52 week high of $75.59.

BRP (NASDAQ:DOOO) last issued its earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. BRP had a return on equity of 79.58% and a net margin of 2.78%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. Analysts expect that BRP Inc. will post 2.27 earnings per share for the current year.

BRP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, September 27th. BRP’s payout ratio is presently 25.73%.

About BRP

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.