Vestcor Inc Purchases Shares of 4,575 Oshkosh Corporation (NYSE:OSK)

Key Points

• Vestcor Inc has acquired a new position in Oshkosh Corporation by purchasing 4,575 shares valued at approximately $430,000, according to its latest SEC filing.
• Oshkosh's stock recently traded at $136.98, with a market cap of $8.82 billion and a price-to-earnings ratio of 13.75, reflecting strong stock performance in the last quarter.
• Analysts have shown positive outlooks for Oshkosh, with multiple upgrades on price targets, including an increase from $169.00 to $188.00 by Robert W. Baird, indicating a consensus rating of "Moderate Buy."

Vestcor Inc purchased a new stake in Oshkosh Corporation (NYSE:OSK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,575 shares of the company's stock, valued at approximately $430,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC boosted its stake in shares of Oshkosh by 91.4% in the first quarter. Parallel Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 127 shares during the period. CX Institutional bought a new position in shares of Oshkosh during the 1st quarter worth about $28,000. Coppell Advisory Solutions LLC boosted its position 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 in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Oshkosh by 147.6% in the 1st quarter. Golden State Wealth Management LLC now owns 312 shares of the company's stock worth $30,000 after acquiring an additional 186 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Oshkosh by 88.7% during the 1st quarter. Signaturefd LLC now owns 636 shares of the company's stock worth $60,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Oshkosh Stock Down 1.4%

Shares of Oshkosh stock traded down $1.88 during trading hours on Thursday, reaching $135.07. 294,978 shares of the company were exchanged, compared to its average volume of 791,573. Oshkosh Corporation has a 1 year low of $76.82 and a 1 year high of $139.95. The stock's fifty day moving average is $118.33 and its 200 day moving average is $104.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 1.84. The firm has a market cap of $8.64 billion, a PE ratio of 13.56, a PEG ratio of 1.72 and a beta of 1.43.

Oshkosh (NYSE:OSK - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.43. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.67 billion. Oshkosh had a return on equity of 16.70% and a net margin of 6.25%. The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.34 earnings per share. As a group, equities research analysts forecast that Oshkosh Corporation will post 10.96 earnings per share for the current year.

Oshkosh Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. Oshkosh's dividend payout ratio is presently 20.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OSK shares. Jefferies Financial Group reiterated a "hold" rating on shares of Oshkosh in a research note on Friday, June 6th. Bank of America boosted their price target on shares of Oshkosh from $90.00 to $103.00 and gave the company an "underperform" rating in a research report on Friday, June 6th. Robert W. Baird increased their price target on shares of Oshkosh from $169.00 to $188.00 and gave the company an "outperform" rating in a report on Monday. Morgan Stanley decreased 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 report on Wednesday, April 16th. Finally, UBS Group set a $164.00 price objective on Oshkosh and gave the stock a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Oshkosh has a consensus rating of "Moderate Buy" and an average target price of $133.08.

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.