Oshkosh Co. (NYSE:OSK) Stake Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in shares of Oshkosh Co. (NYSE:OSK) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,559 shares of the company’s stock after selling 11,059 shares during the quarter. Wedge Capital Management L L P NC owned about 0.16% of Oshkosh worth $9,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of OSK. Blue Trust Inc. grew its stake in shares of Oshkosh by 108.7% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Oshkosh by 181.7% in the fourth quarter. State of Alaska Department of Revenue now owns 21,420 shares of the company’s stock worth $2,035,000 after purchasing an additional 13,815 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Oshkosh in the fourth quarter worth $351,000. Empowered Funds LLC grew its stake in shares of Oshkosh by 239.2% in the fourth quarter. Empowered Funds LLC now owns 41,686 shares of the company’s stock worth $3,963,000 after purchasing an additional 29,397 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in shares of Oshkosh by 29.0% in the fourth quarter. Entropy Technologies LP now owns 20,018 shares of the company’s stock worth $1,903,000 after purchasing an additional 4,498 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Analyst Ratings Changes

OSK has been the subject of several recent analyst reports. UBS Group increased their price target on Oshkosh from $99.00 to $119.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Morgan Stanley decreased their target price on Oshkosh from $110.00 to $91.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Evercore ISI raised their target price on Oshkosh from $137.00 to $147.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. KeyCorp decreased their target price on Oshkosh from $132.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial raised Oshkosh from a “hold” rating to a “buy” rating and raised their target price for the company from $93.00 to $127.00 in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Oshkosh has an average rating of “Hold” and an average price target of $120.29.

Oshkosh Trading Down 0.2%

Shares of NYSE OSK opened at $109.42 on Monday. Oshkosh Co. has a 12 month low of $76.82 and a 12 month high of $118.39. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 1.45 and a beta of 1.41. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $92.27 and a 200-day simple moving average of $97.85.

Oshkosh (NYSE:OSK) last announced its earnings results on Wednesday, April 30th. The company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.10). Oshkosh had a net margin of 6.34% and a return on equity of 19.31%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the company earned $2.89 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts predict that Oshkosh Co. will post 10.96 EPS for the current year.

Oshkosh Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, May 16th. Oshkosh’s dividend payout ratio is currently 21.79%.

About Oshkosh

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Defense, and Vocational segment. Its Access Equipment segment design and manufacture aerial work platform and telehandlers for use in construction, industrial, and maintenance applications; offers financing and leasing solutions including rental fleet loans, leases, and floor plan and retail financing; and towing and recovery equipment, which includes carriers, wreckers, and rotators, as well as provides equipment installation and sale of chassis and service parts.