Envestnet Asset Management Inc. Reduces Position in Oshkosh Corporation (NYSE:OSK)

Envestnet Asset Management Inc. decreased its holdings in shares of Oshkosh Corporation (NYSE:OSK) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.23% of Oshkosh worth $14,277,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in shares of Oshkosh in the 4th quarter valued at approximately $34,000. Raymond James Financial Inc. acquired a new stake in shares of Oshkosh in the fourth quarter valued at $8,467,000. Farther Finance Advisors LLC raised its position in Oshkosh by 191.3% in the 4th quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock valued at $48,000 after purchasing an additional 329 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Oshkosh in the 4th quarter valued at about $899,000. Finally, Natixis Advisors LLC raised its holdings in shares of Oshkosh by 275.2% in the 4th quarter. Natixis Advisors LLC now owns 67,341 shares of the company’s stock valued at $6,402,000 after purchasing an additional 49,394 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial upgraded shares of Oshkosh from a “hold” rating to a “buy” rating and raised their price objective for the company from $93.00 to $127.00 in a report on Tuesday, June 3rd. Evercore ISI increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of Oshkosh from $92.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, June 6th. Bank of America increased their target price 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, UBS Group increased their target price on shares of Oshkosh from $119.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.85.

Oshkosh Price Performance

Shares of NYSE:OSK opened at $123.42 on Friday. The company has a 50-day simple moving average of $110.62 and a 200-day simple moving average of $100.78. Oshkosh Corporation has a one year low of $76.82 and a one year high of $129.02. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 1.77. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.81 and a beta of 1.43.

Oshkosh (NYSE:OSK) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.10). The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.42 billion. Oshkosh had a net margin of 5.84% and a return on equity of 17.22%. Oshkosh’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 EPS. On average, analysts predict that Oshkosh Corporation will post 10.96 EPS for the current 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 paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, May 16th. Oshkosh’s dividend payout ratio (DPR) is 21.79%.

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.