Canada Pension Plan Investment Board Buys 328,473 Shares of Dover Corporation (DOV)
Canada Pension Plan Investment Board increased its stake in Dover Corporation (NYSE:DOV) by 461.8% during the second quarter, Holdings Channel reports. The institutional investor owned 399,600 shares of the industrial products company’s stock after buying an additional 328,473 shares during the period. Canada Pension Plan Investment Board’s holdings in Dover Corporation were worth $32,056,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of DOV. Macquarie Group Ltd. increased its stake in shares of Dover Corporation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock valued at $292,000 after buying an additional 100 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Dover Corporation by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 48,908 shares of the industrial products company’s stock valued at $3,929,000 after buying an additional 800 shares in the last quarter. National Pension Service increased its stake in shares of Dover Corporation by 0.8% in the first quarter. National Pension Service now owns 145,970 shares of the industrial products company’s stock valued at $11,688,000 after buying an additional 1,220 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Dover Corporation during the first quarter valued at $635,000. Finally, Oliver Luxxe Assets LLC increased its stake in shares of Dover Corporation by 4.2% in the first quarter. Oliver Luxxe Assets LLC now owns 13,891 shares of the industrial products company’s stock valued at $1,116,000 after buying an additional 563 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.
Dover Corporation (NYSE DOV) opened at 85.05 on Friday. The stock has a market cap of $13.25 billion, a PE ratio of 21.26 and a beta of 1.27. The stock has a 50 day moving average price of $83.36 and a 200-day moving average price of $80.94. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $87.63.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. On average, analysts expect that Dover Corporation will post $4.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.47 dividend. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. Dover Corporation’s dividend payout ratio is 44.11%.
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Several equities research analysts recently weighed in on DOV shares. Barclays PLC increased their price target on Dover Corporation from $78.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Stifel Nicolaus increased their price target on Dover Corporation from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, April 21st. Edward Jones downgraded Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $89.00 price target (up from $86.00) on shares of Dover Corporation in a report on Sunday, April 23rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a report on Tuesday, May 23rd. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.73.
In other news, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $83.22, for a total value of $3,328,800.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at $22,914,127.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $87.04, for a total value of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Dover Corporation Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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