Nicholas Investment Partners LP reduced its position in shares of Dover Corporation (NYSE:DOV) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,980 shares of the industrial products company’s stock after selling 4,370 shares during the period. Nicholas Investment Partners LP’s holdings in Dover Corporation were worth $4,177,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. raised its stake in shares of Dover Corporation by 32.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,205 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 3,477 shares during the last quarter. Gulf International Bank UK Ltd raised 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 worth $3,929,000 after buying an additional 800 shares during the last quarter. Oliver Luxxe Assets LLC raised 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 worth $1,116,000 after buying an additional 563 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Dover Corporation by 2.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 81,798 shares of the industrial products company’s stock worth $6,572,000 after buying an additional 1,939 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Dover Corporation during the first quarter worth $6,512,000. Institutional investors and hedge funds own 85.09% of the company’s stock.
Shares of Dover Corporation (DOV) opened at 78.51 on Monday. Dover Corporation has a 52 week low of $63.93 and a 52 week high of $84.40. The company has a 50 day moving average of $81.56 and a 200 day moving average of $79.34. The firm has a market cap of $12.22 billion, a PE ratio of 21.22 and a beta of 1.20.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 20th. The industrial products company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.48. Dover Corporation had a net margin of 8.33% and a return on equity of 12.93%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $0.64 EPS. Dover Corporation’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Dover Corporation will post $4.20 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Friday, May 26th. Dover Corporation’s payout ratio is 47.44%.
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A number of research analysts recently commented on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a research report on Wednesday, June 7th. Bank of America Corporation increased their target price on shares of Dover Corporation from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Edward Jones downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. Morgan Stanley raised shares of Dover Corporation from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $85.00 to $90.00 in a research report on Monday, April 3rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $86.00 target price on shares of Dover Corporation in a research report on Sunday, March 12th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $85.30.
In other Dover Corporation news, VP C. Anderson Fincher sold 15,638 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $79.85, for a total value of $1,248,694.30. Following the completion of the sale, the vice president now directly owns 32,842 shares of the company’s stock, valued at approximately $2,622,433.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Spurgeon sold 7,864 shares of the company’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $81.25, for a total transaction of $638,950.00. Following the completion of the sale, the vice president now directly owns 39,155 shares of the company’s stock, valued at $3,181,343.75. The disclosure for this sale can be found here. Insiders sold a total of 63,502 shares of company stock valued at $5,216,444 over the last three months. 2.50% of the stock is owned by corporate 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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