Raymond James & Associates lowered its stake in BRP Inc. (NASDAQ:DOOO – Get Rating) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,813 shares of the company’s stock after selling 4,979 shares during the period. Raymond James & Associates’ holdings in BRP were worth $1,651,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. National Bank of Canada FI boosted its holdings in BRP by 13.7% in the second quarter. National Bank of Canada FI now owns 227,102 shares of the company’s stock valued at $13,863,000 after acquiring an additional 27,293 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BRP by 111.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,005 shares of the company’s stock valued at $676,000 after acquiring an additional 5,797 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in BRP in the second quarter valued at $5,848,000. Van ECK Associates Corp boosted its holdings in BRP by 52.4% in the second quarter. Van ECK Associates Corp now owns 18,961 shares of the company’s stock valued at $1,167,000 after acquiring an additional 6,518 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in BRP by 2.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 104,512 shares of the company’s stock valued at $6,281,000 after acquiring an additional 2,097 shares in the last quarter. Institutional investors own 27.61% of the company’s stock.
Analyst Ratings Changes
Separately, Desjardins boosted their target price on shares of BRP from C$155.00 to C$156.00 in a report on Thursday, December 1st.
BRP Stock Performance
BRP (NASDAQ:DOOO – Get Rating) last announced its quarterly earnings results on Wednesday, November 30th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.95. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.77 billion. BRP had a net margin of 7.64% and a negative return on equity of 2,046.73%. On average, equities analysts expect that BRP Inc. will post 8.85 EPS for the current fiscal year.
BRP Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a $0.118 dividend. This represents a $0.47 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, December 29th. BRP’s payout ratio is 7.13%.
BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.
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