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Richard Pzena Reduces Dover, Sells BP

- By Tiziano Frateschi

Richard Pzena (Trades, Portfolio), founder of Pzena Investment Management, sold shares of the following stocks during the first quarter.


The Dover Corp. (DOV) stake was reduced by 69.24%. The trade had an impact of -0.99% on the portfolio.

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The industrial products manufacturer has a market cap of $14.07 billion and an enterprise value of $17.12 billion.


GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 17.41% and return on assets of 6.12% are outperforming 67% of companies in the Diversified Industrials industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.88.

Another notable guru shareholder of the company is Daniel Loeb (Trades, Portfolio) with 0.73% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.23% and Joel Greenblatt (Trades, Portfolio) with 0.18%.

The investor trimmed 48.08% off his Merck & Co. Inc. (MRK) stake, impacting the portfolio by -0.79%.

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The pharmaceutical company has a market cap of $201.94 billion and an enterprise value of $218.38 billion.


GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 26.30% and return on assets of 9.84% are underperforming 56% of companies in the Drug Manufacturers - Major industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.32 is below the industry median of 0.64.

The company's largest guru shareholder is the Vanguard Health Care Fund (Trades, Portfolio) with 0.70% of outstanding shares, followed by Pioneer Investments with 0.36%, Ken Fisher (Trades, Portfolio) with 0.33% and Jeremy Grantham (Trades, Portfolio) with 0.14%.


Pzena exited his BP PLC (BP) holding, impacting the portfolio by -0.77%.

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The integrated oil and gas company has a market cap of $143.14 billion and an enterprise value of $198.89 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 9.87% and return on assets of 3.52% are underperforming 66% of companies in the Oil and Gas Integrated industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.28 is below the industry median of 0.34.

The company's largest guru shareholder is Barrow, Hanley, Mewhinney & Strauss with 0.69% of outstanding shares, followed by Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.34% and Fisher with 0.24%.

The Exxon Mobil Corp. (XOM) position was reduced 36.29%, impacting the portfolio by -0.67%.

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The energy company has a market cap of $325.27 billion and an enterprise value of $368.31 billion.


GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 9.77% and return on assets of 5.28% are outperforming 68% of companies in the Oil and Gas Integrated industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.11 is below the industry median of 0.34.


The company's largest guru shareholder is First Eagle Investment (Trades, Portfolio) with 0.43% of outstanding shares, followed by Pioneer Investments with 0.16% and the T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.15%.

The guru curbed his Royal Dutch Shell PLC (RDS-A) stake by 31.56%, impacting the portfolio by -0.57%.

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The oil and gas company has a market cap of $256.37 billion and an enterprise value of $329.13 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 12.03% and return on assets of 5.83% are underperforming 58% of companies in the Oil and Gas Integrated industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.23 is below the industry median of 0.34.

The company's largest guru shareholder is Fisher with 0.33% of outstanding shares, followed by Hotchkis & Wiley with 0.12%.

Pzena trimmed his Omnicom Group Inc. (OMC) holding by 18.43%, impacting the portfolio by -0.54%.

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The company, which provides traditional and digital advertising, has a market cap of $17.49 billion and an enterprise value of $20.09 billion.


GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 53.93% and return on assets of 5.62% are outperforming 63% of companies in the Advertising Agencies industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.63 is below the industry median of 1.83.


The company's largest guru shareholder is First Eagle Investment (Trades, Portfolio) with 4.54% of outstanding shares, followed by John Rogers (Trades, Portfolio) with 0.41%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.