Cresset Asset Management LLC Purchases New Shares in Oshkosh Corporation $OSK

Key Points

• Cresset Asset Management LLC has made a new investment of $213,000 in Oshkosh Corporation, purchasing 2,259 shares of the company's stock.
• Oshkosh reported a Q2 earnings per share (EPS) of $3.41, surpassing analysts' expectations of $2.98, and generated revenue of $2.73 billion.
• The company recently declared a quarterly dividend of $0.51 per share, equating to an annualized yield of 1.4%, payable on September 2nd.

Cresset Asset Management LLC bought a new position in Oshkosh Corporation (NYSE:OSK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,259 shares of the company's stock, valued at approximately $213,000.

A number of other institutional investors also recently modified their holdings of the stock. Captrust Financial Advisors boosted its stake in shares of Oshkosh by 3.9% in the 4th quarter. Captrust Financial Advisors now owns 3,259 shares of the company's stock valued at $310,000 after purchasing an additional 122 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Oshkosh by 91.4% during the 1st quarter. Parallel Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 127 shares during the last quarter. Capital Insight Partners LLC raised its position in shares of Oshkosh by 3.9% during the 1st quarter. Capital Insight Partners LLC now owns 4,599 shares of the company's stock valued at $433,000 after acquiring an additional 171 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Oshkosh by 147.6% in the 1st quarter. Golden State Wealth Management LLC now owns 312 shares of the company's stock valued at $30,000 after acquiring an additional 186 shares during the period. Finally, US Bancorp DE raised its position in shares of Oshkosh by 6.3% in the 1st quarter. US Bancorp DE now owns 3,202 shares of the company's stock valued at $301,000 after acquiring an additional 190 shares during the period. 92.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Oshkosh

In other Oshkosh news, CMO Bryan K. Brandt sold 1,732 shares of the company's stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anupam Khare sold 4,000 shares of the company's stock in a transaction 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 transaction, the senior vice president 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. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on OSK shares. JPMorgan Chase & Co. raised their price objective on Oshkosh from $92.00 to $106.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. UBS Group set a $164.00 price objective on Oshkosh and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Bank of America upped their target price on shares of Oshkosh from $90.00 to $103.00 and gave the stock an "underperform" rating in a research note on Friday, June 6th. Zacks Research raised shares of Oshkosh from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Citigroup reaffirmed 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $138.08.

Oshkosh Stock Performance

OSK stock traded down $3.97 during trading hours on Friday, reaching $139.19. The stock had a trading volume of 877,534 shares, compared to its average volume of 614,304. The stock has a market capitalization of $8.91 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.84 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $129.21 and a 200 day simple moving average of $108.12. Oshkosh Corporation has a fifty-two week low of $76.82 and a fifty-two week high of $144.30.

Oshkosh (NYSE:OSK - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $3.41 EPS for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.34 earnings per share. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. Analysts predict that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Announces Dividend

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