Commonwealth Bank of Australia Grows Stake in Oshkosh Corp (OSK)
Commonwealth Bank of Australia lifted its position in shares of Oshkosh Corp (NYSE:OSK) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,067 shares of the company’s stock after buying an additional 700 shares during the quarter. Commonwealth Bank of Australia’s holdings in Oshkosh were worth $1,287,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Oshkosh during the 4th quarter worth $981,000. Bank of New York Mellon Corp raised its stake in Oshkosh by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 892,149 shares of the company’s stock valued at $63,557,000 after purchasing an additional 22,252 shares during the last quarter. New Amsterdam Partners LLC NY raised its stake in Oshkosh by 19.4% in the 4th quarter. New Amsterdam Partners LLC NY now owns 21,091 shares of the company’s stock valued at $1,293,000 after purchasing an additional 3,422 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Oshkosh in the 4th quarter valued at about $2,213,000. Finally, Midas Management Corp acquired a new position in Oshkosh in the 4th quarter valued at about $2,275,000. 88.22% of the stock is owned by institutional investors and hedge funds.
In other news, EVP John J. Bryant sold 4,819 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $77.85, for a total transaction of $375,159.15. Following the completion of the transaction, the executive vice president now owns 6,309 shares of the company’s stock, valued at approximately $491,155.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David M. Sagehorn sold 29,200 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $79.20, for a total transaction of $2,312,640.00. Following the transaction, the vice president now directly owns 166,310 shares of the company’s stock, valued at approximately $13,171,752. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,928 shares of company stock valued at $6,771,979. Corporate insiders own 1.90% of the company’s stock.
Oshkosh (NYSE:OSK) last posted its quarterly earnings data on Wednesday, January 30th. The company reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.67. Oshkosh had a net margin of 6.62% and a return on equity of 21.83%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Oshkosh Corp will post 7.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, February 14th. Oshkosh’s dividend payout ratio is currently 16.98%.
Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Oshkosh to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 31st. ValuEngine raised shares of Oshkosh from a “strong sell” rating to a “sell” rating in a research note on Friday, November 23rd. Bank of America raised shares of Oshkosh from a “neutral” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Thursday, January 31st. reissued a “sell” rating on shares of Oshkosh in a research note on Wednesday, February 13th. Finally, reissued a “sell” rating on shares of Oshkosh in a research note on Wednesday, February 13th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Oshkosh has an average rating of “Hold” and an average target price of $83.83.
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Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.
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