Envestnet Portfolio Solutions Inc. Increases Holdings in Dover Co. (NYSE:DOV)

Envestnet Portfolio Solutions Inc. increased its stake in Dover Co. (NYSE:DOV) by 9.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,297 shares of the industrial products company’s stock after buying an additional 1,449 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Dover were worth $3,245,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DOV. Empowered Funds LLC raised its holdings in shares of Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares during the period. Swiss National Bank increased its position in Dover by 0.3% in the third quarter. Swiss National Bank now owns 407,900 shares of the industrial products company’s stock worth $78,211,000 after buying an additional 1,100 shares during the last quarter. Quest Partners LLC raised its stake in shares of Dover by 513,400.0% in the third quarter. Quest Partners LLC now owns 5,135 shares of the industrial products company’s stock valued at $985,000 after buying an additional 5,134 shares during the period. Pathstone Holdings LLC grew its stake in shares of Dover by 1.4% during the 3rd quarter. Pathstone Holdings LLC now owns 21,356 shares of the industrial products company’s stock worth $4,095,000 after acquiring an additional 288 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Dover in the 3rd quarter worth about $263,000. Institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.8 %

Shares of DOV stock opened at $182.27 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $25.01 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The business has a 50-day moving average price of $194.78 and a two-hundred day moving average price of $193.54. Dover Co. has a 12-month low of $168.20 and a 12-month high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Equities analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.13%. Dover’s payout ratio is 10.59%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup cut their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group decreased their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Company Profile

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.