Alberta Investment Management Corp Buys 13,200 Shares of Oshkosh Corporation (NYSE:OSK)

Key Points

• Alberta Investment Management Corp significantly increased its stake in Oshkosh Corporation by 194.1%, acquiring an additional 13,200 shares, bringing its total holdings to 20,000 shares valued at approximately $1.88 million.
• Several analysts have upgraded Oshkosh's stock ratings, with Goldman Sachs increasing their target price from $124 to $131 and changing the rating from "neutral" to "buy."
• Oshkosh announced a quarterly dividend of $0.51 per share, with a dividend yield of 1.5%, payable on September 2nd to shareholders on record as of August 19th.

Alberta Investment Management Corp raised its position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 194.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,000 shares of the company's stock after purchasing an additional 13,200 shares during the quarter. Alberta Investment Management Corp's holdings in Oshkosh were worth $1,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of Oshkosh by 91.4% during the first quarter. Parallel Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. CX Institutional bought a new position in Oshkosh during the first quarter valued at about $28,000. Golden State Wealth Management LLC raised its holdings in Oshkosh by 147.6% during the first quarter. Golden State Wealth Management LLC now owns 312 shares of the company's stock valued at $30,000 after buying an additional 186 shares in the last quarter. Coppell Advisory Solutions LLC increased its stake in shares of Oshkosh by 52.1% in the fourth 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. Finally, Signaturefd LLC increased its stake in shares of Oshkosh by 88.7% in the first quarter. Signaturefd LLC now owns 636 shares of the company's stock worth $60,000 after purchasing an additional 299 shares during the period. 92.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on OSK. Morgan Stanley decreased their price objective on Oshkosh from $110.00 to $91.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. DA Davidson upped their price objective on shares of Oshkosh from $148.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday. Citigroup reiterated a "buy" rating and issued a $130.00 target price (up from $125.00) on shares of Oshkosh in a research note on Tuesday, June 24th. Evercore ISI raised their target price on shares of Oshkosh from $137.00 to $147.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Truist Financial raised shares of Oshkosh from a "hold" rating to a "buy" rating and increased their target price for the stock from $93.00 to $127.00 in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.08.

Oshkosh Stock Up 2.0%

Oshkosh stock traded up $2.74 during trading hours on Tuesday, hitting $139.58. The stock had a trading volume of 1,187,783 shares, compared to its average volume of 793,692. The company has a quick ratio of 0.92, a current ratio of 1.84 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $8.93 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 2.06 and a beta of 1.43. Oshkosh Corporation has a 12-month low of $76.82 and a 12-month high of $139.95. The stock's 50-day moving average price is $116.83 and its 200-day moving average price is $103.57.

Oshkosh (NYSE:OSK - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.43. The firm had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.67 billion. Oshkosh had a net margin of 6.25% and a return on equity of 16.70%. The firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.34 earnings per share. Equities research analysts anticipate that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be given 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 is Tuesday, August 19th. Oshkosh's dividend payout ratio is presently 20.48%.

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.