The Manufacturers Life Insurance Company Sells 144,180 Shares of BRP Inc. $DOO

The Manufacturers Life Insurance Company trimmed its stake in BRP Inc. (NASDAQ:DOO) by 12.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,055,126 shares of the company’s stock after selling 144,180 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.43% of BRP worth $75,779,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DOO. Quarry LP acquired a new stake in BRP in the fourth quarter valued at $30,000. Signaturefd LLC acquired a new stake in BRP in the 4th quarter valued at about $43,000. Quadrant Capital Group LLC acquired a new stake in BRP in the 4th quarter valued at about $89,000. PNC Financial Services Group Inc. bought a new position in BRP during the fourth quarter worth about $142,000. Finally, Intact Investment Management Inc. acquired a new position in BRP during the fourth quarter worth approximately $156,000.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of BRP in a research report on Friday, May 29th. Citigroup decreased their target price on BRP from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Canaccord Genuity Group downgraded BRP from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 15th. Finally, UBS Group dropped their target price on BRP from $78.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, BRP currently has an average rating of “Hold” and a consensus price target of $83.00.

BRP Price Performance

Shares of NASDAQ DOO opened at $61.14 on Thursday. The business has a fifty day moving average price of $59.68 and a two-hundred day moving average price of $65.71. The stock has a market capitalization of $4.48 billion, a PE ratio of 23.07 and a beta of 0.89. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.30 and a quick ratio of 0.61. BRP Inc. has a fifty-two week low of $48.67 and a fifty-two week high of $81.89.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 30th. BRP’s dividend payout ratio is 26.42%.

BRP Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.