Covea Finance Grows Holdings in Oshkosh Corporation (NYSE:OSK)

Covea Finance increased its stake in Oshkosh Corporation (NYSE:OSK - Free Report) by 135.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,500 shares of the company's stock after purchasing an additional 40,500 shares during the period. Covea Finance owned approximately 0.11% of Oshkosh worth $6,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Oshkosh by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 8,141,738 shares of the company's stock worth $774,035,000 after buying an additional 176,400 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Oshkosh by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,317,709 shares of the company's stock valued at $220,342,000 after purchasing an additional 206,377 shares during the period. American Century Companies Inc. lifted its position in shares of Oshkosh by 23.3% in the fourth quarter. American Century Companies Inc. now owns 2,030,410 shares of the company's stock valued at $193,031,000 after buying an additional 384,141 shares during the last quarter. FMR LLC lifted its holdings in Oshkosh by 13.0% during the 4th quarter. FMR LLC now owns 1,383,558 shares of the company's stock valued at $131,535,000 after purchasing an additional 159,667 shares during the last quarter. Finally, Invesco Ltd. grew its stake 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 buying an additional 27,659 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OSK has been the topic of a number of recent research reports. Morgan Stanley lowered 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. Evercore ISI raised their price target on shares of Oshkosh from $137.00 to $147.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. UBS Group upped their price objective on Oshkosh from $99.00 to $119.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Robert W. Baird boosted their price target on shares of Oshkosh from $135.00 to $169.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Finally, KeyCorp dropped their price target on Oshkosh from $132.00 to $120.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.07.

Oshkosh Stock Performance

OSK traded up $1.99 on Tuesday, hitting $110.66. The company's stock had a trading volume of 430,496 shares, compared to its average volume of 660,910. The company's 50 day simple moving average is $97.74 and its 200-day simple moving average is $97.69. The company has a quick ratio of 0.86, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. Oshkosh Corporation has a 12 month low of $76.82 and a 12 month high of $118.39. The firm has a market cap of $7.12 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.59 and a beta of 1.41.

Oshkosh (NYSE:OSK - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.02 by ($0.10). The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.42 billion. Oshkosh had a net margin of 5.84% and a return on equity of 17.22%. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.89 earnings per share. Analysts forecast that Oshkosh Corporation will post 10.96 EPS for the current year.

Oshkosh Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.84%. Oshkosh's payout ratio is currently 21.79%.

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.