Envestnet Asset Management Inc. Decreases Stake in Oshkosh Corporation (NYSE:OSK)

Envestnet Asset Management Inc. trimmed its position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,757 shares of the company's stock after selling 9,417 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.23% of Oshkosh worth $14,277,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Oshkosh in the 4th quarter worth $72,692,000. American Century Companies Inc. increased its holdings in Oshkosh by 23.3% in the 4th quarter. American Century Companies Inc. now owns 2,030,410 shares of the company's stock worth $193,031,000 after acquiring an additional 384,141 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Oshkosh in the 4th quarter worth $25,968,000. Atlantic Investment Management Inc. acquired a new stake in Oshkosh during the 4th quarter worth $21,866,000. Finally, Balyasny Asset Management L.P. boosted its stake in Oshkosh by 84.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 462,034 shares of the company's stock worth $43,926,000 after purchasing an additional 211,244 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on OSK. KeyCorp lowered their target price on shares of Oshkosh from $132.00 to $120.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group reissued a "hold" rating on shares of Oshkosh in a research report on Friday, June 6th. The Goldman Sachs Group raised shares of Oshkosh from a "neutral" rating to a "buy" rating and boosted their price target for the company from $124.00 to $131.00 in a research report on Tuesday, July 1st. Bank of America boosted their price target on shares of Oshkosh from $90.00 to $103.00 and gave the company an "underperform" rating in a research report on Friday, June 6th. Finally, Evercore ISI boosted their price target on shares of Oshkosh from $137.00 to $147.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Oshkosh presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.85.

Oshkosh Stock Performance

Shares of NYSE OSK traded down $0.95 during mid-day trading on Friday, hitting $123.42. 543,464 shares of the company were exchanged, compared to its average volume of 683,160. The company has a quick ratio of 0.86, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $110.62 and a 200-day simple moving average of $100.82. Oshkosh Corporation has a 1-year low of $76.82 and a 1-year high of $129.02. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43.

Oshkosh (NYSE:OSK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.10). Oshkosh had a return on equity of 17.22% and a net margin of 5.84%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the business earned $2.89 earnings per share. Oshkosh's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts forecast 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 was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Friday, May 16th. Oshkosh's dividend payout ratio is currently 21.79%.

Oshkosh Company Profile

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.