Montrusco Bolton Investments Inc. Sells 47,650 Shares of BRP Inc. $DOO

Montrusco Bolton Investments Inc. decreased its stake in BRP Inc. (NASDAQ:DOO) by 17.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,693 shares of the company’s stock after selling 47,650 shares during the period. Montrusco Bolton Investments Inc. owned 0.30% of BRP worth $15,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DOO. Mackenzie Financial Corp bought a new stake in BRP during the fourth quarter worth about $207,651,000. Price T Rowe Associates Inc. MD acquired a new position in shares of BRP during the 4th quarter worth approximately $169,341,000. Capital World Investors bought a new stake in shares of BRP during the 4th quarter worth approximately $158,763,000. FIL Ltd bought a new stake in shares of BRP during the 4th quarter worth approximately $123,110,000. Finally, Vanguard Group Inc. acquired a new stake in shares of BRP in the 4th quarter valued at approximately $98,153,000.

BRP Price Performance

NASDAQ:DOO opened at $57.87 on Friday. BRP Inc. has a one year low of $47.74 and a one year high of $81.89. The firm has a market capitalization of $4.27 billion, a P/E ratio of 21.84 and a beta of 0.89. The company has a fifty day moving average of $58.02. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30.

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 paid a $0.25 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. BRP’s dividend payout ratio is 27.17%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DOO shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of BRP in a report on Friday, May 29th. Canaccord Genuity Group lowered shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Stifel Nicolaus cut shares of BRP from a “buy” rating to a “hold” rating in a report on Friday, May 29th. TD Securities reiterated a “hold” rating on shares of BRP in a research note on Friday, May 29th. Finally, National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 15th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.