M&G Investment Management Ltd. reduced its stake in Oshkosh Co. (NYSE:OSK) by 1.5% during the first quarter, Holdings Channel.com reports. The fund owned 68,777 shares of the company’s stock after selling 1,081 shares during the period. M&G Investment Management Ltd.’s holdings in Oshkosh were worth $8,184,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of OSK. BlackRock Inc. increased its holdings in Oshkosh by 0.8% in the first quarter. BlackRock Inc. now owns 6,582,501 shares of the company’s stock worth $781,080,000 after purchasing an additional 49,244 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Oshkosh by 23.9% in the first quarter. Victory Capital Management Inc. now owns 2,574,535 shares of the company’s stock worth $305,495,000 after purchasing an additional 497,311 shares in the last quarter. Boston Partners increased its holdings in Oshkosh by 9.9% in the first quarter. Boston Partners now owns 2,366,237 shares of the company’s stock worth $280,822,000 after purchasing an additional 212,315 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Oshkosh by 10.2% in the first quarter. Alliancebernstein L.P. now owns 2,145,747 shares of the company’s stock worth $254,614,000 after purchasing an additional 198,125 shares in the last quarter. Finally, Norges Bank bought a new stake in Oshkosh in the fourth quarter worth approximately $69,328,000. 87.98% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on OSK shares. JPMorgan Chase & Co. lifted their target price on Oshkosh from $92.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 14th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft boosted their price objective on Oshkosh from $135.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Citigroup boosted their price objective on Oshkosh from $135.00 to $145.00 in a report on Thursday, April 29th. Raymond James boosted their price objective on Oshkosh from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Finally, Jefferies Financial Group boosted their price objective on Oshkosh from $125.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $134.07.
Oshkosh (NYSE:OSK) last posted its quarterly earnings data on Tuesday, April 27th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.33. Oshkosh had a return on equity of 12.38% and a net margin of 5.11%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Oshkosh Co. will post 6.82 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Friday, May 14th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $1.32 annualized dividend and a yield of 1.03%. Oshkosh’s dividend payout ratio is currently 26.72%.
In other news, VP R Scott Grennier sold 4,000 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $127.08, for a total transaction of $508,320.00. Following the transaction, the vice president now owns 7,840 shares of the company’s stock, valued at approximately $996,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Frank R. Nerenhausen sold 20,000 shares of the company’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $128.00, for a total value of $2,560,000.00. Following the transaction, the executive vice president now directly owns 39,689 shares in the company, valued at approximately $5,080,192. The disclosure for this sale can be found here. In the last three months, insiders sold 74,757 shares of company stock worth $9,805,046. Insiders own 1.30% of the company’s stock.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.
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