Franklin Resources Inc. Raises Holdings in BRP Inc. (NASDAQ:DOOO)

Franklin Resources Inc. boosted its stake in shares of BRP Inc. (NASDAQ:DOOO) by 41.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731,268 shares of the company’s stock after acquiring an additional 214,626 shares during the quarter. Franklin Resources Inc. owned 1.00% of BRP worth $43,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of DOOO. The Manufacturers Life Insurance Company boosted its holdings in BRP by 61.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock valued at $68,850,000 after acquiring an additional 408,692 shares during the period. American Century Companies Inc. lifted its holdings in BRP by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock worth $68,656,000 after buying an additional 335,715 shares during the period. Ceredex Value Advisors LLC lifted its holdings in BRP by 297.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 173,884 shares of the company’s stock worth $11,160,000 after buying an additional 130,131 shares during the period. CIBC Asset Management Inc lifted its holdings in BRP by 154.5% in the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock worth $7,347,000 after buying an additional 70,819 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in BRP by 17.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after buying an additional 61,502 shares during the period.

BRP Stock Up 2.0 %

Shares of NASDAQ:DOOO opened at $51.78 on Wednesday. BRP Inc. has a 52-week low of $46.85 and a 52-week high of $75.59. The firm has a market capitalization of $3.78 billion, a P/E ratio of 27.54 and a beta of 2.03. The stock has a 50 day moving average price of $51.41 and a 200-day moving average price of $60.30. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.37 and a current ratio of 1.37.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.1485 per share. This represents a $0.59 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Tuesday, December 31st. BRP’s dividend payout ratio (DPR) is presently 32.98%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Finally, Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BRP has an average rating of “Hold” and an average target price of $97.00.

About BRP

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.