Convergence Investment Partners LLC Invests $1.16 Million in Oshkosh Corporation $OSK

Convergence Investment Partners LLC purchased a new stake in shares of Oshkosh Corporation (NYSE:OSK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,960 shares of the company’s stock, valued at approximately $1,162,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. American Century Companies Inc. raised its holdings in shares of Oshkosh by 22.8% during the second quarter. American Century Companies Inc. now owns 2,858,787 shares of the company’s stock valued at $324,587,000 after acquiring an additional 529,907 shares in the last quarter. LSV Asset Management increased its position in Oshkosh by 8.0% during the 2nd quarter. LSV Asset Management now owns 1,864,424 shares of the company’s stock valued at $211,687,000 after purchasing an additional 137,818 shares during the period. AQR Capital Management LLC raised its holdings in Oshkosh by 25.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,709,338 shares of the company’s stock worth $193,728,000 after purchasing an additional 345,782 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Oshkosh by 2.4% in the 2nd quarter. Bank of America Corp DE now owns 1,090,142 shares of the company’s stock worth $123,775,000 after purchasing an additional 25,125 shares during the period. Finally, Norges Bank purchased a new stake in shares of Oshkosh in the 2nd quarter worth about $98,570,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OSK shares. UBS Group reissued a “buy” rating and issued a $167.00 price target on shares of Oshkosh in a research note on Friday. Truist Financial set a $183.00 price target on Oshkosh in a research report on Friday. Wall Street Zen downgraded shares of Oshkosh from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley increased their price target on shares of Oshkosh from $147.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Sanford C. Bernstein boosted their price objective on shares of Oshkosh from $132.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, December 19th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Oshkosh currently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Oshkosh Stock Performance

Shares of OSK stock opened at $149.55 on Tuesday. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.94. Oshkosh Corporation has a one year low of $76.82 and a one year high of $158.53. The company’s 50-day moving average is $137.43 and its 200 day moving average is $133.95.

Oshkosh (NYSE:OSK) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.07). The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Oshkosh had a net margin of 6.21% and a return on equity of 15.69%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. Sell-side analysts expect that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Oshkosh’s previous quarterly dividend of $0.51. Oshkosh’s dividend payout ratio is 20.36%.

Oshkosh Profile

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.