The Manufacturers Life Insurance Company Purchases 150,039 Shares of BRP Inc. (NASDAQ:DOOO)

The Manufacturers Life Insurance Company increased its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 13.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 1.68% of BRP worth $73,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. QV Investors Inc. acquired a new stake in shares of BRP in the second quarter valued at about $28,142,000. American Century Companies Inc. increased its position in shares of BRP by 45.6% in the second quarter. American Century Companies Inc. now owns 1,072,168 shares of the company's stock worth $68,656,000 after acquiring an additional 335,715 shares in the last quarter. Ceredex Value Advisors LLC lifted its stake in shares of BRP by 297.4% during the second quarter. Ceredex Value Advisors LLC now owns 173,884 shares of the company's stock worth $11,160,000 after purchasing an additional 130,131 shares in the last quarter. CIBC Asset Management Inc increased its stake in BRP by 154.5% during the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company's stock worth $7,347,000 after buying an additional 70,819 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BRP by 17.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock valued at $24,159,000 after purchasing an additional 61,502 shares in the last quarter.

Analyst Ratings Changes

DOOO has been the topic of several analyst reports. Cibc World Mkts cut BRP from a "strong-buy" rating to a "hold" rating in a research 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. Citigroup decreased 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. Scotiabank cut BRP from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, September 9th. Finally, Desjardins cut BRP from a "moderate buy" rating to a "hold" rating in a research report on Sunday, September 8th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $97.00.

BRP Price Performance

Shares of NASDAQ DOOO traded up $0.82 during midday trading on Thursday, reaching $48.38. The company's stock had a trading volume of 222,802 shares, compared to its average volume of 128,010. The company has a market cap of $3.53 billion, a P/E ratio of 20.07 and a beta of 2.07. BRP Inc. has a fifty-two week low of $46.85 and a fifty-two week high of $75.59. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. The business's 50 day moving average price is $53.83 and its two-hundred day moving average price is $61.92.

BRP (NASDAQ:DOOO - Get Free Report) last released its earnings results on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. On average, analysts forecast that BRP Inc. will post 2.27 EPS for the current fiscal year.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given 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 of this dividend was Friday, September 27th. BRP's dividend payout ratio (DPR) 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.