After a very busy June in terms of new buys, July has started a little slower which is fine with me. My goal regarding investment consistency is to make at least one buy every month which is something that I have done since 2007 through all market conditions.
These days it seems that the market is lacking any real catalyst to push prices higher. Seems like the headlines are dictating huge price swings rather than fundamental metrics for stock prices. That’s OK with me as we are presented with many new buying opportunities. That’s usually what volatility enables.
In my recent July Stock Considerations post I had mentioned that I was not looking to initiate any new positions for the month but rather focus on what was already in my portfolio. As many long time readers know, that typically meant an investment in TD, BNS or RY but with renewed volatility in the markets with concerns over China and Greece other names on my July watch list are looking more attractive from a price/valuation standpoint. Of course, being able to average down on a current holding doesn’t hurt either. With that being said, let’s take a look at my recent stock buy.
I have added to my taxable account 13.000 shares at $65.49 for a total investment of $851.37 in Dover Corporation (DOV). With this recent purchase my taxable account holdings in DOV now totals 19.6111 shares for a value of $1,294.33.
Looking at the rest of July, the Canadian banks still look attractive to me and may see another purchase in the sector before the month is over.
What do you think about my recent stock purchase? Is DOV in your current portfolio or on your watch list? Please let me know below.
Disclosure: Long DOV, TD, BNS, RY