Proficio Capital Partners LLC Makes New $28.72 Million Investment in Dover Co. (NYSE:DOV)

Proficio Capital Partners LLC bought a new position in shares of Dover Co. (NYSE:DOV) during the fourth quarter, Holdings Channel.com reports. The fund bought 153,082 shares of the industrial products company’s stock, valued at approximately $28,718,000.

A number of other institutional investors have also made changes to their positions in the business. Oppenheimer & Co. Inc. increased its holdings in shares of Dover by 28.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock worth $4,471,000 after acquiring an additional 5,289 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Dover by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 54,500 shares of the industrial products company’s stock worth $10,224,000 after acquiring an additional 900 shares during the last quarter. SRN Advisors LLC acquired a new position in shares of Dover during the 4th quarter worth approximately $228,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Dover by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,787 shares of the industrial products company’s stock worth $2,211,000 after acquiring an additional 70 shares during the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of Dover by 1.4% during the 4th quarter. Crestwood Advisors Group LLC now owns 5,279 shares of the industrial products company’s stock worth $990,000 after acquiring an additional 75 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of DOV stock opened at $198.75 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $163.71 and a twelve month high of $222.31. The company has a market cap of $27.27 billion, a P/E ratio of 10.22, a P/E/G ratio of 2.06 and a beta of 1.24. The business has a fifty day simple moving average of $196.05 and a 200 day simple moving average of $193.28.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. Dover’s dividend payout ratio is currently 10.59%.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of recent analyst reports. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup decreased their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. The Goldman Sachs Group upped their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays upped their price objective on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.