Equity Investment Corp Increases Stake in Oshkosh Corporation (NYSE:OSK)

Equity Investment Corp grew its position in shares of Oshkosh Corporation (NYSE:OSK) by 0.1% in the first quarter, Holdings Channel reports. The institutional investor owned 599,710 shares of the company’s stock after buying an additional 738 shares during the period. Equity Investment Corp’s holdings in Oshkosh were worth $56,421,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC raised its position in Oshkosh by 91.4% during the 1st quarter. Parallel Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. CX Institutional purchased a new position in Oshkosh during the 1st quarter worth $28,000. Coppell Advisory Solutions LLC grew its stake in shares of Oshkosh by 52.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 321 shares of the company’s stock worth $30,000 after purchasing an additional 110 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Oshkosh by 147.6% during the 1st quarter. Golden State Wealth Management LLC now owns 312 shares of the company’s stock worth $30,000 after purchasing an additional 186 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Oshkosh during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Oshkosh from $110.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of Oshkosh from $92.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, June 6th. KeyCorp lowered their price target on shares of Oshkosh from $132.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial raised shares of Oshkosh from a “hold” rating to a “buy” rating and upped their price target for the stock from $93.00 to $127.00 in a research note on Tuesday, June 3rd. Finally, UBS Group increased their price objective on shares of Oshkosh from $119.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.85.

Oshkosh Price Performance

Oshkosh stock opened at $122.15 on Wednesday. Oshkosh Corporation has a 12-month low of $76.82 and a 12-month high of $129.02. The stock has a market capitalization of $7.86 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.82 and a beta of 1.43. The firm’s 50-day moving average is $108.64 and its two-hundred day moving average is $100.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 0.86.

Oshkosh (NYSE:OSK) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.10). Oshkosh had a return on equity of 17.22% and a net margin of 5.84%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the business earned $2.89 earnings per share. Oshkosh’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts predict that Oshkosh Corporation will post 10.96 earnings per share for the current year.

Oshkosh Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.67%. Oshkosh’s payout ratio is currently 21.79%.

Oshkosh Profile

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.