Covea Finance Boosts Stake in Oshkosh Corporation $OSK

Covea Finance boosted its position in Oshkosh Corporation (NYSE:OSK) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,400 shares of the company’s stock after purchasing an additional 4,800 shares during the period. Covea Finance’s holdings in Oshkosh were worth $10,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Keybank National Association OH purchased a new stake in shares of Oshkosh during the third quarter valued at $422,000. Mutual Advisors LLC purchased a new position in Oshkosh in the 3rd quarter worth about $849,000. Peterson Wealth Services lifted its holdings in Oshkosh by 3,459.5% during the 3rd quarter. Peterson Wealth Services now owns 56,952 shares of the company’s stock valued at $7,387,000 after buying an additional 55,352 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in Oshkosh in the 3rd quarter valued at about $1,162,000. Finally, Asset Management One Co. Ltd. bought a new position in Oshkosh in the 3rd quarter worth about $1,399,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Oshkosh

In related news, SVP Anupam Khare sold 4,000 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $169.07, for a total transaction of $676,280.00. Following the transaction, the senior vice president directly owned 13,577 shares of the company’s stock, valued at $2,295,463.39. This represents a 22.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OSK shares. Wall Street Zen raised Oshkosh from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Robert W. Baird set a $182.00 target price on Oshkosh in a report on Friday, January 30th. Truist Financial set a $183.00 price target on Oshkosh in a research report on Friday, January 30th. Citigroup raised their price target on Oshkosh from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Sanford C. Bernstein lifted their price objective on Oshkosh from $132.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, December 19th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Oshkosh currently has an average rating of “Moderate Buy” and a consensus target price of $165.31.

Oshkosh Trading Down 2.7%

NYSE:OSK opened at $140.32 on Friday. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.74 and a beta of 1.37. Oshkosh Corporation has a 52 week low of $76.82 and a 52 week high of $180.49. The company has a quick ratio of 1.05, a current ratio of 1.94 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $159.39 and a 200 day moving average of $140.70.

Oshkosh (NYSE:OSK) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.07). The firm had revenue of $2.69 billion during 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%.Oshkosh’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.58 earnings per share. As a group, sell-side analysts anticipate that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were paid a dividend of $0.57 per share. This is a positive change from Oshkosh’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, February 17th. This represents a $2.28 annualized dividend and a yield of 1.6%. Oshkosh’s dividend payout ratio (DPR) is presently 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.