BRP Inc. (NASDAQ:DOOO) Stake Increased by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in BRP Inc. by 31.2%, owning 64,941 shares worth approximately $2.19 million as of the latest filing.
• BRP recently reported $0.33 earnings per share, exceeding analyst expectations of $0.29, although its revenue of $1.34 billion fell short of the anticipated $1.78 billion.
• The company has raised its quarterly dividend from $0.15 to $0.1557 per share, resulting in a 1.2% dividend yield for investors.

Ontario Teachers Pension Plan Board boosted its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 31.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,941 shares of the company's stock after buying an additional 15,447 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.09% of BRP worth $2,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in BRP by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company's stock worth $1,823,000 after acquiring an additional 293 shares during the last quarter. Dnca Finance grew its stake in BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after purchasing an additional 369 shares during the period. Quadrant Capital Group LLC increased its position in shares of BRP by 259.3% during the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock valued at $35,000 after acquiring an additional 490 shares in the last quarter. Jane Street Group LLC raised its holdings in BRP by 1.4% in the 4th quarter. Jane Street Group LLC now owns 65,470 shares of the company's stock worth $3,333,000 after acquiring an additional 933 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in BRP by 2.2% in the 4th quarter. Bank of Nova Scotia now owns 53,439 shares of the company's stock valued at $2,721,000 after acquiring an additional 1,159 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Canada raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. UBS Group reduced their target price on shares of BRP from $45.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Citigroup reiterated a "neutral" rating and set a $51.00 price target (up previously from $43.00) on shares of BRP in a research note on Monday, June 16th. TD Securities upgraded BRP from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 30th. Finally, Desjardins raised BRP from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

BRP Stock Down 0.6%

Shares of NASDAQ DOOO traded down $0.31 during mid-day trading on Friday, reaching $51.25. The company had a trading volume of 239,655 shares, compared to its average volume of 206,128. The stock has a market cap of $3.74 billion, a P/E ratio of -125.00 and a beta of 1.24. BRP Inc. has a 52-week low of $31.78 and a 52-week high of $72.84. The firm has a 50 day simple moving average of $49.22 and a two-hundred day simple moving average of $42.34. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85.

BRP (NASDAQ:DOOO - Get Free Report) last issued 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 positive return on equity of 54.71% and a negative net margin of 0.55%. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.78 billion. Sell-side analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were issued a $0.1557 dividend. This is a positive change from BRP's previous quarterly dividend of $0.15. The ex-dividend date was Monday, June 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.2%. BRP's dividend payout ratio (DPR) is presently -153.66%.

BRP Company 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.