Eagle Bay Advisors LLC Increases Stock Holdings in Oshkosh Co. (NYSE:OSK)

Eagle Bay Advisors LLC boosted its stake in Oshkosh Co. (NYSE:OSK) by 547.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 667 shares of the company’s stock after acquiring an additional 564 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Oshkosh were worth $72,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Oshkosh by 1.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 22,615 shares of the company’s stock valued at $2,447,000 after purchasing an additional 235 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Oshkosh by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 631,351 shares of the company’s stock valued at $68,312,000 after acquiring an additional 2,645 shares in the last quarter. LRI Investments LLC increased its position in shares of Oshkosh by 13,833.3% during the second quarter. LRI Investments LLC now owns 1,672 shares of the company’s stock worth $181,000 after acquiring an additional 1,660 shares during the last quarter. Hennessy Advisors Inc. increased its position in shares of Oshkosh by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 297,300 shares of the company’s stock worth $32,168,000 after acquiring an additional 45,500 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Oshkosh in the second quarter worth about $218,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Oshkosh Stock Performance

Shares of NYSE OSK traded down $0.13 during mid-day trading on Wednesday, hitting $106.15. The company had a trading volume of 111,408 shares, compared to its average volume of 487,251. Oshkosh Co. has a 12 month low of $86.10 and a 12 month high of $127.98. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.44 and a quick ratio of 0.81. The firm’s 50 day simple moving average is $105.97 and its two-hundred day simple moving average is $112.26.

Oshkosh (NYSE:OSK) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.34. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Oshkosh had a return on equity of 20.83% and a net margin of 6.58%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business posted $2.69 earnings per share. As a group, equities research analysts forecast that Oshkosh Co. will post 11.67 earnings per share for the current year.

Oshkosh Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.84 annualized dividend and a dividend yield of 1.73%. Oshkosh’s payout ratio is currently 17.61%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OSK. Truist Financial lifted their price objective on Oshkosh from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Citigroup began coverage on shares of Oshkosh in a research note on Wednesday, June 26th. They issued a “buy” rating and a $130.00 price target for the company. Jefferies Financial Group reduced their price objective on shares of Oshkosh from $135.00 to $105.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. dropped their target price on shares of Oshkosh from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Raymond James began coverage on shares of Oshkosh in a research note on Friday, June 28th. They issued an “outperform” rating and a $125.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $125.07.

About Oshkosh

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.