Vestcor Inc Purchases New Shares in BRP Inc. $DOO

Vestcor Inc acquired a new stake in shares of BRP Inc. (NASDAQ:DOO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,490 shares of the company’s stock, valued at approximately $1,591,000.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new stake in shares of BRP in the fourth quarter valued at about $43,000. PNC Financial Services Group Inc. purchased a new position in BRP during the fourth quarter worth about $142,000. Intact Investment Management Inc. purchased a new position in BRP during the fourth quarter worth about $156,000. Annex Advisory Services LLC acquired a new stake in BRP in the fourth quarter valued at about $279,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in BRP in the 4th quarter valued at approximately $284,000.

BRP Stock Performance

BRP stock opened at $60.70 on Monday. The stock’s 50-day moving average is $61.18. BRP Inc. has a 52 week low of $46.23 and a 52 week high of $81.89. The stock has a market cap of $4.48 billion, a PE ratio of 22.91 and a beta of 0.89. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 3.41.

BRP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 1.6%. BRP’s dividend payout ratio is 27.17%.

Analyst Ratings Changes

DOO has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on BRP in a report on Wednesday, March 11th. They set an “overweight” rating on the stock. Raymond James Financial lowered shares of BRP from a “strong-buy” rating to a “market perform” rating in a research report on Friday, April 24th. Stifel Nicolaus cut shares of BRP from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Citigroup cut their price target on shares of BRP from $75.00 to $74.00 and set a “buy” rating for the company in a report on Friday, May 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of BRP in a research note on Monday, March 23rd. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.00.

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.