BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $12 Million Stake in Dover Corporation (DOV)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Dover Corporation (NYSE:DOV) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,572 shares of the industrial products company’s stock after selling 3,193 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Dover Corporation were worth $11,999,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in Dover Corporation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock worth $292,000 after buying an additional 100 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in 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 worth $3,929,000 after buying an additional 800 shares in the last quarter. National Pension Service boosted its position in Dover Corporation by 0.8% in the first quarter. National Pension Service now owns 145,970 shares of the industrial products company’s stock worth $11,688,000 after buying an additional 1,220 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Dover Corporation during the first quarter worth $635,000. Finally, DnB Asset Management AS boosted its position in Dover Corporation by 2.7% in the first quarter. DnB Asset Management AS now owns 23,216 shares of the industrial products company’s stock worth $1,865,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.
Shares of Dover Corporation (NYSE:DOV) opened at 85.36 on Thursday. The company’s 50 day moving average price is $83.95 and its 200 day moving average price is $81.05. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $87.63. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 21.34 and a beta of 1.27.
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, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $0.76 EPS. Dover Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts forecast that Dover Corporation will post $4.31 earnings per share 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, August 29th. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio (DPR) is presently 44.11%.
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A number of equities analysts have weighed in on DOV shares. Barclays PLC upped 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 upped 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 cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $89.00 price target (up previously from $86.00) on shares of Dover Corporation in a report on Sunday, April 23rd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dover Corporation in a report on Tuesday, May 23rd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Dover Corporation currently has an average rating of “Hold” and a consensus price target of $87.73.
In other news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael B. Stubbs sold 40,000 shares of Dover Corporation stock in a transaction that occurred 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 sale, the director now directly owns 275,344 shares in the company, valued at approximately $22,914,127.68. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
About Dover Corporation
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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