Royal Bank of Canada Acquires 32,466 Shares of Oshkosh Corporation $OSK

Key Points

• Royal Bank of Canada increased its holdings in Oshkosh Corporation by 10.7%, acquiring an additional 32,466 shares, bringing its total ownership to 335,393 shares worth approximately $31.55 million.
• Oshkosh Corporation reported a quarterly earnings per share (EPS) of $3.41, exceeding analyst expectations of $2.98 and showing a revenue of $2.73 billion, which was above the projected $2.67 billion.
• The company declared a quarterly dividend of $0.51 per share, representing an annual yield of 1.5%, with a dividend payout ratio (DPR) of 20.48%.

Royal Bank of Canada increased its position in Oshkosh Corporation (NYSE:OSK - Free Report) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 335,393 shares of the company's stock after purchasing an additional 32,466 shares during the quarter. Royal Bank of Canada owned approximately 0.52% of Oshkosh worth $31,553,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OSK. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Oshkosh during the 1st quarter worth about $54,860,000. Dimensional Fund Advisors LP lifted its holdings in shares of Oshkosh by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,672,423 shares of the company's stock valued at $251,417,000 after purchasing an additional 354,714 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Oshkosh by 14.7% during the 1st quarter. American Century Companies Inc. now owns 2,328,880 shares of the company's stock valued at $219,101,000 after purchasing an additional 298,470 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Oshkosh in the 4th quarter valued at approximately $25,968,000. Finally, Nuveen LLC bought a new stake in Oshkosh in the 1st quarter valued at approximately $23,542,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Oshkosh Stock Performance

NYSE OSK traded down $1.77 on Friday, reaching $136.92. The stock had a trading volume of 631,849 shares, compared to its average volume of 515,068. 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 firm has a fifty day moving average of $133.62 and a two-hundred day moving average of $110.26. Oshkosh Corporation has a 1-year low of $76.82 and a 1-year high of $144.30. The company has a market cap of $8.76 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.49.

Oshkosh (NYSE:OSK - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $3.41 earnings per share 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 the consensus estimate of $2.67 billion. Oshkosh had a return on equity of 16.70% and a net margin of 6.25%.The company's revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.34 EPS. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. On average, equities research analysts anticipate that Oshkosh Corporation will post 10.96 EPS for the current year.

Oshkosh Announces Dividend

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

Insiders Place Their Bets

In other news, CMO Bryan K. Brandt sold 1,732 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $140.37, for a total transaction 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. This represents a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Anupam Khare sold 4,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $139.03, for a total value of $556,120.00. Following the sale, the senior vice president owned 13,716 shares of the company's stock, 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. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Jefferies Financial Group restated a "hold" rating on shares of Oshkosh in a research note on Friday, June 6th. Robert W. Baird upped their price objective on Oshkosh from $169.00 to $188.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Evercore ISI reiterated an "outperform" rating on shares of Oshkosh in a research note on Tuesday, August 19th. DA Davidson set a $160.00 price objective on Oshkosh and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Citigroup reiterated a "buy" rating and set a $130.00 price objective (up previously from $125.00) on shares of Oshkosh in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.08.

Oshkosh 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.