Wedge Capital Management L L P NC Cuts Stake in Oshkosh Corporation $OSK

Wedge Capital Management L L P NC cut its holdings in shares of Oshkosh Corporation (NYSE:OSK) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,698 shares of the company’s stock after selling 5,741 shares during the quarter. Wedge Capital Management L L P NC owned 0.13% of Oshkosh worth $10,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Oshkosh during the third quarter worth $26,000. Blue Trust Inc. boosted its holdings in Oshkosh by 471.1% in the third quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. SJS Investment Consulting Inc. boosted its holdings in Oshkosh by 3,014.3% in the third quarter. SJS Investment Consulting Inc. now owns 218 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Oshkosh during the 3rd quarter worth $29,000. Finally, Quent Capital LLC acquired a new position in Oshkosh during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OSK. Wall Street Zen raised Oshkosh from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Zacks Research raised Oshkosh from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Raymond James Financial restated an “outperform” rating and set a $175.00 target price on shares of Oshkosh in a research note on Monday, March 2nd. Argus reduced their target price on shares of Oshkosh from $175.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, DA Davidson lifted their price target on shares of Oshkosh from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Oshkosh has a consensus rating of “Moderate Buy” and a consensus target price of $165.31.

Insider Buying and Selling

In other news, SVP Anupam Khare sold 4,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $169.07, for a total value of $676,280.00. Following the completion of the sale, the senior vice president directly owned 13,577 shares of the company’s stock, valued at approximately $2,295,463.39. This represents a 22.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Oshkosh Price Performance

Shares of NYSE OSK opened at $140.19 on Friday. The stock has a market cap of $8.77 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.72 and a beta of 1.37. Oshkosh Corporation has a twelve month low of $76.82 and a twelve month high of $180.49. The stock has a 50 day moving average of $158.71 and a two-hundred day moving average of $140.94. The company has a current ratio of 1.94, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24.

Oshkosh (NYSE:OSK) last announced its earnings results on Thursday, January 29th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.07). The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. On average, research analysts forecast that Oshkosh Corporation will post 10.96 earnings per share for the current year.

Oshkosh Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 17th. This is an increase from Oshkosh’s previous quarterly dividend of $0.51. Oshkosh’s payout ratio is 22.75%.

Oshkosh Company Profile

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.