Bank of Nova Scotia Invests $3.78 Million in Oshkosh Corporation (NYSE:OSK)

Key Points

• Bank of Nova Scotia has invested approximately $3.78 million in Oshkosh Corporation by purchasing 40,205 shares, representing about 0.06% of the company as of their latest SEC filing.
• Oshkosh's stock price has recently been rated with a consensus of "Moderate Buy", receiving price target upgrades from several brokerages, with the current average target at $133.08.
• The company announced a quarterly dividend of $0.51, indicating an annualized dividend of $2.04, which reflects a yield of 1.5% for shareholders of record on August 19th.

Bank of Nova Scotia purchased a new position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,205 shares of the company's stock, valued at approximately $3,782,000. Bank of Nova Scotia owned approximately 0.06% of Oshkosh as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its stake in Oshkosh by 16.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,562 shares of the company's stock valued at $244,000 after buying an additional 371 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Oshkosh by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,130,190 shares of the company's stock worth $107,479,000 after buying an additional 40,260 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Oshkosh by 13.1% during the 4th quarter. Wells Fargo & Company MN now owns 68,868 shares of the company's stock worth $6,547,000 after buying an additional 7,960 shares during the period. FMR LLC boosted its holdings in shares of Oshkosh by 13.0% during the 4th quarter. FMR LLC now owns 1,383,558 shares of the company's stock worth $131,535,000 after buying an additional 159,667 shares during the period. Finally, Invesco Ltd. boosted its holdings in Oshkosh by 2.3% in the 4th quarter. Invesco Ltd. now owns 1,243,561 shares of the company's stock valued at $118,225,000 after purchasing an additional 27,659 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OSK. JPMorgan Chase & Co. boosted their target price on shares of Oshkosh from $92.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Robert W. Baird upped their price objective on shares of Oshkosh from $169.00 to $188.00 and gave the company an "outperform" rating in a research note on Monday. Truist Financial raised shares of Oshkosh from a "hold" rating to a "buy" rating and upped their price objective for the company from $93.00 to $127.00 in a research note on Tuesday, June 3rd. Evercore ISI increased their target price on shares of Oshkosh from $137.00 to $147.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Oshkosh in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $133.08.

Oshkosh Price Performance

OSK stock opened at $139.58 on Wednesday. The firm has a 50 day moving average of $117.60 and a 200-day moving average of $103.82. The company has a current ratio of 1.84, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Oshkosh Corporation has a 12 month low of $76.82 and a 12 month high of $139.95. The firm 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 (NYSE:OSK - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $2.98 by $0.43. Oshkosh had a net margin of 6.25% and a return on equity of 16.70%. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the business earned $3.34 earnings per share. Oshkosh's revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued 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 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.

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