BRP Inc. (NASDAQ:DOOO) Stock Position Lowered by Vestcor Inc

Vestcor Inc trimmed its position in shares of BRP Inc. (NASDAQ:DOOO) by 70.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,392 shares of the company’s stock after selling 8,100 shares during the quarter. Vestcor Inc’s holdings in BRP were worth $202,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of BRP by 61.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock valued at $68,850,000 after buying an additional 408,692 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of BRP by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after purchasing an additional 335,715 shares during the period. Ceredex Value Advisors LLC lifted its position in shares of BRP by 297.4% in 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 boosted its holdings in shares of BRP by 154.5% during the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock worth $7,347,000 after purchasing an additional 70,819 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in BRP by 17.9% during the third 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.

BRP Price Performance

NASDAQ DOOO opened at $51.71 on Friday. The firm has a market cap of $3.77 billion, a P/E ratio of 27.51 and a beta of 2.03. The stock’s 50-day moving average is $51.58 and its two-hundred day moving average is $60.49. 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 5.19, a current ratio of 1.37 and a quick ratio of 0.37.

BRP Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.1485 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.59 annualized dividend and a yield of 1.15%. BRP’s dividend payout ratio (DPR) is currently 32.98%.

Analyst Ratings Changes

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