Invesco Ltd. Has $41.75 Million Stake in BRP Inc. $DOOO

Key Points

• Invesco Ltd. increased its stake in BRP Inc. by 6.2%, acquiring an additional 71,544 shares, resulting in a total of 1,234,801 shares owned, valued at approximately $41.7 million.
• Several other institutional investors have also increased their holdings in BRP, with notable stakes increased by Barclays PLC and Public Employees Retirement System of Ohio.
• BRP recently announced a quarterly dividend increase to $0.1557 per share, with a new annual yield of 1.1%, marking an increase from its previous dividend.

Invesco Ltd. grew its holdings in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,234,801 shares of the company's stock after purchasing an additional 71,544 shares during the quarter. Invesco Ltd. owned approximately 1.69% of BRP worth $41,749,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Turtle Creek Asset Management Inc. increased its holdings in shares of BRP by 29.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company's stock worth $151,118,000 after buying an additional 668,607 shares during the last quarter. Capital World Investors lifted its holdings in BRP by 101.2% in the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company's stock worth $100,386,000 after acquiring an additional 991,392 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in BRP by 15.0% in the first quarter. Mackenzie Financial Corp now owns 1,884,728 shares of the company's stock worth $63,636,000 after acquiring an additional 245,463 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of BRP by 23.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company's stock valued at $77,223,000 after purchasing an additional 288,004 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of BRP by 20.0% in the first quarter. National Bank of Canada FI now owns 495,657 shares of the company's stock valued at $16,731,000 after purchasing an additional 82,723 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DOOO. Citigroup restated a "neutral" rating and issued a $51.00 target price (up from $43.00) on shares of BRP in a research report on Monday, June 16th. Desjardins raised shares of BRP from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Wall Street Zen raised shares of BRP from a "hold" rating to a "buy" rating in a research note on Sunday, July 6th. Stifel Canada raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Finally, TD Securities raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 30th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $43.00.

BRP Stock Performance

Shares of NASDAQ:DOOO traded up $3.22 on Friday, hitting $58.60. 290,242 shares of the company were exchanged, compared to its average volume of 233,398. The company's 50 day moving average price is $50.85 and its two-hundred day moving average price is $42.77. BRP Inc. has a one year low of $31.78 and a one year high of $72.84. The company has a debt-to-equity ratio of 5.85, a quick ratio of 0.58 and a current ratio of 1.34. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -142.93 and a beta of 1.24.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.78 billion. Research analysts expect that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were paid a $0.1557 dividend. The ex-dividend date of this dividend was Monday, June 30th. This is an increase from BRP's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 1.1%. BRP's payout ratio is presently -153.66%.

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.