NewEdge Wealth LLC Buys New Holdings in BRP Inc. (NASDAQ:DOOO)

NewEdge Wealth LLC bought a new stake in shares of BRP Inc. (NASDAQ:DOOO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,995 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors also recently bought and sold shares of DOOO. Invesco Ltd. lifted its holdings in BRP by 103.1% in the 1st quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock worth $65,671,000 after buying an additional 407,545 shares during the period. Norges Bank bought a new stake in shares of BRP in the 4th quarter worth $28,986,000. Morgan Stanley increased its holdings in shares of BRP by 100.4% in the 3rd quarter. Morgan Stanley now owns 628,044 shares of the company’s stock worth $47,643,000 after purchasing an additional 314,625 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of BRP in the 1st quarter worth $19,626,000. Finally, Bank of America Corp DE increased its holdings in shares of BRP by 51.6% in the 1st quarter. Bank of America Corp DE now owns 734,279 shares of the company’s stock worth $57,421,000 after purchasing an additional 250,005 shares in the last quarter.

BRP Price Performance

NASDAQ DOOO opened at $68.06 on Friday. The company has a market capitalization of $5.16 billion, a PE ratio of 9.70 and a beta of 2.12. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.55 and a current ratio of 1.41. The business’s fifty day moving average is $66.78 and its 200 day moving average is $68.42. BRP Inc. has a fifty-two week low of $57.15 and a fifty-two week high of $92.74.

BRP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a dividend of $0.1545 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $0.62 annualized dividend and a yield of 0.91%. BRP’s dividend payout ratio (DPR) is presently 8.83%.

Wall Street Analyst Weigh In

DOOO has been the topic of a number of research reports. CIBC raised their price target on BRP from $106.00 to $110.00 and gave the stock an “outperformer” rating in a research note on Monday, April 1st. Raymond James dropped their price target on BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 1st. TheStreet downgraded BRP from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Finally, Desjardins raised their price target on BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.78.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.