Dover Corp (DOV) Stake Decreased by Caisse DE Depot ET Placement DU Quebec

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Caisse DE Depot ET Placement DU Quebec decreased its holdings in Dover Corp (NYSE:DOV) by 94.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,600 shares of the industrial products company’s stock after selling 259,580 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Dover were worth $1,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DOV. Edgestream Partners L.P. bought a new stake in Dover during the 2nd quarter worth $742,000. Rhumbline Advisers grew its position in Dover by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 317,036 shares of the industrial products company’s stock worth $23,207,000 after acquiring an additional 19,824 shares during the last quarter. Reilly Herbert Faulkner III grew its position in Dover by 2.7% during the 2nd quarter. Reilly Herbert Faulkner III now owns 50,792 shares of the industrial products company’s stock worth $3,718,000 after acquiring an additional 1,328 shares during the last quarter. Cadence Capital Management LLC grew its position in Dover by 106.0% during the 2nd quarter. Cadence Capital Management LLC now owns 13,211 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 6,797 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its position in Dover by 33.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,622 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 1,410 shares during the last quarter. Institutional investors own 90.73% of the company’s stock.

Shares of DOV stock opened at $87.38 on Tuesday. Dover Corp has a 52-week low of $70.12 and a 52-week high of $90.26. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $13.08 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.53 and a beta of 1.34.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 19th. The industrial products company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.09. Dover had a return on equity of 18.66% and a net margin of 9.64%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts predict that Dover Corp will post 4.82 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were given a dividend of $0.48 per share. This is an increase from Dover’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. Dover’s dividend payout ratio (DPR) is presently 47.64%.

A number of brokerages recently weighed in on DOV. Bank of America boosted their price objective on Dover from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Barclays upped their price target on Dover to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, September 12th. Oppenheimer reiterated a “hold” rating on shares of Dover in a research report on Tuesday, September 11th. Stifel Nicolaus boosted their price objective on Dover from $85.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, September 12th. Finally, Royal Bank of Canada upped their price target on Dover to $86.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 12th. Thirteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Dover currently has an average rating of “Hold” and a consensus target price of $92.77.

In other Dover news, Director Kristiane C. Graham sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the sale, the director now owns 367,324 shares in the company, valued at $30,396,061. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Dover Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

Further Reading: Initial Public Offering (IPO)

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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