The Manufacturers Life Insurance Company Has $75.78 Million Holdings in BRP Inc. $DOO

The Manufacturers Life Insurance Company lessened its holdings in BRP Inc. (NASDAQ:DOO) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,055,126 shares of the company’s stock after selling 144,180 shares during the period. The Manufacturers Life Insurance Company’s holdings in BRP were worth $75,779,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DOO. Mackenzie Financial Corp acquired a new stake in shares of BRP in the 4th quarter valued at approximately $207,651,000. Price T Rowe Associates Inc. MD bought a new position in BRP in the 4th quarter valued at approximately $169,341,000. Capital World Investors acquired a new stake in BRP in the fourth quarter valued at approximately $158,763,000. FIL Ltd acquired a new stake in BRP in the fourth quarter valued at approximately $123,110,000. Finally, Vanguard Group Inc. bought a new stake in shares of BRP during the fourth quarter worth $98,153,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DOO. Seaport Research Partners downgraded shares of BRP from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Weiss Ratings restated a “hold (c)” rating on shares of BRP in a research report on Thursday, July 2nd. Scotiabank reissued a “sector perform” rating on shares of BRP in a report on Friday, July 24th. TD Securities reissued a “hold” rating on shares of BRP in a research note on Friday, May 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of BRP in a research note on Friday, May 29th. Four analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.00.

BRP Trading Down 2.2%

NASDAQ DOO opened at $61.14 on Thursday. The business has a 50 day simple moving average of $59.68 and a 200 day simple moving average of $65.71. BRP Inc. has a one year low of $48.67 and a one year high of $81.89. The stock has a market capitalization of $4.48 billion, a P/E 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders 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 was Tuesday, June 30th. BRP’s dividend payout ratio is presently 26.42%.

BRP Company 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.