Confluence Wealth Services Inc. Takes Position in Oshkosh Corporation $OSK

Key Points

• Confluence Wealth Services Inc. acquired a new stake in Oshkosh Corporation, purchasing 2,320 shares valued at approximately $263,000 in the second quarter.
• Oshkosh reported earnings of $3.41 per share for the quarter, surpassing analysts' estimates of $2.98, despite a 4% decline in revenue compared to the previous year.
• Oshkosh Corporation announced a quarterly dividend of $0.51 per share, with a dividend yield of 1.5% and a payout ratio of 20.48%.

Confluence Wealth Services Inc. purchased a new stake in Oshkosh Corporation (NYSE:OSK - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,320 shares of the company's stock, valued at approximately $263,000.

A number of other hedge funds also recently bought and sold shares of OSK. Kodai Capital Management LP acquired a new stake in Oshkosh in the first quarter valued at approximately $7,077,000. Ieq Capital LLC acquired a new stake in Oshkosh in the 1st quarter valued at $7,682,000. Principal Financial Group Inc. increased its holdings in Oshkosh by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 149,716 shares of the company's stock worth $14,085,000 after acquiring an additional 553 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Oshkosh during the first quarter worth $263,000. Finally, OMNI 360 Wealth Inc. acquired a new position in Oshkosh during the second quarter worth $237,000. Hedge funds and other institutional investors own 92.36% of the company's stock.

Insider Transactions at Oshkosh

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

Oshkosh Price Performance

NYSE:OSK opened at $131.91 on Tuesday. Oshkosh Corporation has a one year low of $76.82 and a one year high of $144.30. The stock has a market cap of $8.44 billion, a PE ratio of 13.24, a P/E/G ratio of 1.63 and a beta of 1.47. 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 stock has a 50 day moving average price of $135.54 and a 200 day moving average price of $114.26.

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, topping analysts' consensus estimates of $2.98 by $0.43. Oshkosh had a return on equity of 16.70% and a net margin of 6.25%.The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the company posted $3.34 earnings per share. The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. Equities research analysts expect that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on OSK. Wall Street Zen cut shares of Oshkosh from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oshkosh in a research note on Saturday, September 27th. UBS Group set a $164.00 target price on Oshkosh and gave the company a "buy" rating in a research report on Tuesday, August 5th. KeyCorp boosted their price target on Oshkosh from $140.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Finally, Robert W. Baird increased their price objective on Oshkosh from $169.00 to $188.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten 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 stock presently has an average rating of "Moderate Buy" and an average price target of $140.58.

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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