Wedge Capital Management L L P NC Sells 2,643 Shares of Oshkosh Corporation $OSK

Key Points

• Wedge Capital Management reduced its stake in Oshkosh Corporation by 2.6%, selling 2,643 shares and owning about 0.15% of the company valued at $11.1 million.
• Several institutional investors, including Parallel Advisors and Golden State Wealth Management, significantly increased their positions in Oshkosh during the first quarter.
• Oshkosh's recent quarterly earnings report revealed an earnings per share of $3.41, exceeding expectations by $0.43, while the company's revenue decreased by 4% compared to the previous year.

Wedge Capital Management L L P NC lowered its position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 2.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 97,916 shares of the company's stock after selling 2,643 shares during the quarter. Wedge Capital Management L L P NC owned about 0.15% of Oshkosh worth $11,117,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Oshkosh by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,177,120 shares of the company's stock valued at $769,303,000 after purchasing an additional 35,382 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Oshkosh by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,672,423 shares of the company's stock worth $251,417,000 after buying an additional 354,714 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Oshkosh by 14.7% in the first quarter. American Century Companies Inc. now owns 2,328,880 shares of the company's stock valued at $219,101,000 after buying an additional 298,470 shares during the period. LSV Asset Management lifted its holdings in shares of Oshkosh by 6.9% in the first quarter. LSV Asset Management now owns 1,726,606 shares of the company's stock valued at $162,439,000 after buying an additional 111,062 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Oshkosh by 267.3% in the first quarter. AQR Capital Management LLC now owns 1,363,556 shares of the company's stock valued at $126,224,000 after buying an additional 992,313 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Oshkosh Stock Down 1.1%

Shares of Oshkosh stock traded down $1.48 during trading on Tuesday, reaching $131.07. The stock had a trading volume of 309,170 shares, compared to its average volume of 754,026. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 1.66 and a beta of 1.49. The stock has a fifty day moving average price of $134.70 and a two-hundred day moving average price of $111.92. Oshkosh Corporation has a 52 week low of $76.82 and a 52 week high of $144.30. 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 (NYSE:OSK - Get Free Report) last issued 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. 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 period in the previous year, the company posted $3.34 earnings per share. The company's quarterly revenue was down 4.0% compared to the same quarter last year. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. Sell-side analysts predict that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 19th. Oshkosh's payout ratio is 20.48%.

Insider Activity at Oshkosh

In related news, CMO Bryan K. Brandt sold 1,732 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $140.37, for a total value of $243,120.84. Following the completion of the sale, the chief marketing officer directly owned 10,459 shares in the company, valued at approximately $1,468,129.83. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Anupam Khare sold 4,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $139.03, for a total value of $556,120.00. Following the completion of the sale, the senior vice president 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

OSK has been the subject of several research analyst reports. KeyCorp increased their price objective on Oshkosh from $140.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Citigroup increased their price objective on Oshkosh from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. increased 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. DA Davidson set a $160.00 target price on Oshkosh and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Robert W. Baird upped their target price on Oshkosh from $169.00 to $188.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Oshkosh presently has an average rating of "Moderate Buy" and a consensus price target of $140.58.

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.