Proficio Capital Partners LLC Purchases New Position in Dover Corporation $DOV

Proficio Capital Partners LLC bought a new position in Dover Corporation (NYSE:DOV) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 3,569 shares of the industrial products company’s stock, valued at approximately $800,000.

A number of other institutional investors also recently bought and sold shares of DOV. True North Advisors LLC boosted its stake in Dover by 2.9% during the first quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company’s stock worth $336,000 after buying an additional 45 shares during the period. Orion Porfolio Solutions LLC raised its stake in shares of Dover by 0.7% in the fourth quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company’s stock valued at $1,472,000 after acquiring an additional 51 shares during the period. KCM Investment Advisors LLC lifted its holdings in shares of Dover by 3.5% in the 4th quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 53 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Dover by 2.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 56 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its holdings in Dover by 1.3% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 4,678 shares of the industrial products company’s stock valued at $975,000 after purchasing an additional 58 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

Shares of NYSE:DOV opened at $189.88 on Wednesday. The firm has a market cap of $25.57 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15. The firm’s 50 day simple moving average is $209.28 and its 200-day simple moving average is $214.50. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.02. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, equities analysts predict that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.525 per share. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. Dover’s dividend payout ratio is presently 25.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DOV. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Morgan Stanley boosted their target price on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Weiss Ratings raised Dover from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. Wolfe Research reissued an “outperform” rating and set a $262.00 price target on shares of Dover in a research note on Thursday, July 9th. Finally, BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $255.00 to $240.00 in a report on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $238.29.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.