Wesbanco Bank Inc. Acquires New Holdings in Dover Corporation $DOV

Wesbanco Bank Inc. bought a new stake in Dover Corporation (NYSE:DOV) during the 1st quarter, Holdings Channel.com reports. The fund bought 14,456 shares of the industrial products company’s stock, valued at approximately $3,013,000.

A number of other large investors have also added to or reduced their stakes in DOV. Wealth Enhancement Advisory Services LLC lifted its position in Dover by 15.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,470 shares of the industrial products company’s stock valued at $8,442,000 after acquiring an additional 5,514 shares during the last quarter. OFI Invest Asset Management purchased a new position in Dover in the fourth quarter worth $10,195,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Dover by 3.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock worth $42,845,000 after purchasing an additional 7,396 shares in the last quarter. Pensionfund Sabic acquired a new position in shares of Dover during the fourth quarter worth $1,230,000. Finally, BIP Wealth LLC purchased a new stake in shares of Dover during the 4th quarter valued at $538,000. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

NYSE DOV opened at $226.08 on Friday. The stock’s fifty day moving average price is $218.34 and its 200 day moving average price is $213.15. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.72 and a beta of 1.17.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, equities research analysts forecast that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, May 29th. Dover’s dividend payout ratio is 25.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DOV shares. Seaport Research Partners boosted their target price on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Barclays increased their price target on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Morgan Stanley raised their price target on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $229.00 price target on shares of Dover in a research note on Friday, April 24th. Finally, Robert W. Baird upped their price objective on shares of Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $239.85.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.