Bank of Nova Scotia Invests $1.01 Million in Oshkosh Co. (NYSE:OSK)

Bank of Nova Scotia purchased a new position in shares of Oshkosh Co. (NYSE:OSK – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,500 shares of the company’s stock, valued at approximately $1,014,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System grew its stake in shares of Oshkosh by 0.6% in the fourth quarter. State of Michigan Retirement System now owns 16,608 shares of the company’s stock valued at $1,465,000 after buying an additional 100 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Oshkosh by 2.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 4,727 shares of the company’s stock worth $417,000 after purchasing an additional 112 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Oshkosh by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 17,418 shares of the company’s stock worth $1,536,000 after purchasing an additional 116 shares in the last quarter. Yousif Capital Management LLC grew its stake in Oshkosh by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 35,055 shares of the company’s stock worth $3,092,000 after purchasing an additional 120 shares in the last quarter. Finally, MainStreet Investment Advisors LLC boosted its position in shares of Oshkosh by 2.9% during the 4th quarter. MainStreet Investment Advisors LLC now owns 5,097 shares of the company’s stock worth $450,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on OSK. The Goldman Sachs Group downgraded Oshkosh from a “buy” rating to a “neutral” rating and set a $94.00 target price for the company. in a report on Monday, April 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on Oshkosh from $113.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, April 12th. Evercore ISI reduced their target price on Oshkosh from $89.00 to $82.00 in a report on Tuesday, May 9th. Wells Fargo & Company boosted their target price on Oshkosh from $93.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Finally, DA Davidson reduced their price objective on Oshkosh from $95.00 to $86.00 in a research note on Monday, May 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Oshkosh currently has an average rating of “Moderate Buy” and an average target price of $97.21.

Insider Activity

In other news, SVP Jason P. Baab sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $89.00, for a total transaction of $89,000.00. Following the completion of the sale, the senior vice president now directly owns 1,352 shares in the company, valued at $120,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.64% of the company’s stock.

Oshkosh Price Performance

Shares of NYSE:OSK opened at $74.26 on Wednesday. Oshkosh Co. has a one year low of $69.30 and a one year high of $106.66. The stock has a market cap of $4.85 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. The business’s fifty day moving average price is $77.73 and its two-hundred day moving average price is $86.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.02 and a current ratio of 1.80.

Oshkosh (NYSE:OSK – Get Rating) last issued its earnings results on Thursday, April 27th. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.59. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.09 billion. Oshkosh had a return on equity of 9.92% and a net margin of 2.90%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, analysts forecast that Oshkosh Co. will post 6.09 EPS for the current fiscal year.

Oshkosh Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Monday, May 15th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $1.64 annualized dividend and a dividend yield of 2.21%. Oshkosh’s dividend payout ratio is presently 43.27%.

About Oshkosh

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Oshkosh Corp. engages in the design, manufacture, and marketing of specialty vehicles and vehicle bodies. It operates through the following segments: Access Equipment, Defense, Fire & Emergency, and Commercial. The Access Equipment segment consists of JerrDan and JLG, which manufactures aerial work platforms and telehandlers that are used in construction, industrial, institutional, and general maintenance applications to position workers and materials at elevated heights.