Ieq Capital LLC Acquires New Shares in Oshkosh Corporation $OSK

Key Points

• Ieq Capital LLC acquired 81,653 shares of Oshkosh Corporation valued at approximately $7.68 million, increasing its ownership to 0.13% by the end of the last quarter.
• Oshkosh reported a quarterly earnings per share of $3.41, surpassing analysts' expectations of $2.98, although revenue decreased 4.0% year-over-year.
• The company announced a quarterly dividend of $0.51 per share, resulting in an annualized dividend of $2.04 and a yield of 1.4%.

Ieq Capital LLC acquired a new position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 81,653 shares of the company's stock, valued at approximately $7,682,000. Ieq Capital LLC owned approximately 0.13% of Oshkosh at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of OSK. Parallel Advisors LLC lifted its position in Oshkosh by 91.4% in 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 bought a new stake in Oshkosh in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC lifted its position in 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 buying an additional 186 shares during the last quarter. Signaturefd LLC lifted its position in Oshkosh by 88.7% in the 1st quarter. Signaturefd LLC now owns 636 shares of the company's stock worth $60,000 after buying an additional 299 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in Oshkosh by 107.6% in the 1st quarter. Brooklyn Investment Group now owns 714 shares of the company's stock worth $67,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Oshkosh Stock Down 1.2%

OSK stock traded down $1.73 during midday trading on Tuesday, hitting $137.64. The stock had a trading volume of 306,259 shares, compared to its average volume of 763,346. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.49. The business has a 50-day moving average of $129.82 and a two-hundred day moving average of $108.34. Oshkosh Corporation has a 52-week low of $76.82 and a 52-week high of $144.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.84 and a quick ratio of 0.92.

Oshkosh (NYSE:OSK - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $3.41 earnings per share 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 analysts' expectations of $2.67 billion. Oshkosh had a return on equity of 16.70% and a net margin of 6.25%.The firm's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 earnings per share. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. As a group, equities research analysts forecast that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Oshkosh's dividend payout ratio is currently 20.48%.

Insiders Place Their Bets

In other news, CMO Bryan K. Brandt sold 1,732 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $140.37, for a total value of $243,120.84. Following the sale, the chief marketing officer directly owned 10,459 shares of the company's stock, valued at approximately $1,468,129.83. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Anupam Khare sold 4,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $139.03, for a total value of $556,120.00. Following the completion of the sale, the senior vice president directly owned 13,716 shares in the company, valued at approximately $1,906,935.48. This represents a 22.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

OSK has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded Oshkosh from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $124.00 to $131.00 in a research report on Tuesday, July 1st. Jefferies Financial Group reiterated a "hold" rating on shares of Oshkosh in a research report on Friday, June 6th. UBS Group set a $164.00 price objective on Oshkosh and gave the company a "buy" rating in a research report on Tuesday, August 5th. Evercore ISI reiterated an "outperform" rating on shares of Oshkosh in a research report on Tuesday, August 19th. Finally, Truist Financial upgraded Oshkosh from a "hold" rating to a "buy" rating and boosted their price objective for the company from $93.00 to $127.00 in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.08.

Oshkosh Company 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.