Seven Eight Capital LP Purchases New Position in Oshkosh Co. (NYSE:OSK)

Seven Eight Capital LP acquired a new position in shares of Oshkosh Co. (NYSE:OSK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,336 shares of the company’s stock, valued at approximately $1,227,000.

A number of other institutional investors have also recently bought and sold shares of OSK. Mercer Global Advisors Inc. ADV bought a new position in shares of Oshkosh during the second quarter worth $230,000. Edgestream Partners L.P. bought a new position in Oshkosh during the second quarter worth about $915,000. Renaissance Technologies LLC acquired a new position in Oshkosh in the second quarter valued at about $11,368,000. Dimensional Fund Advisors LP increased its holdings in shares of Oshkosh by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,814,972 shares of the company’s stock worth $196,370,000 after acquiring an additional 78,235 shares in the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of Oshkosh during the second quarter worth about $111,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup assumed coverage on Oshkosh in a research report on Wednesday, June 26th. They issued a “buy” rating and a $130.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of Oshkosh from $135.00 to $105.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus cut their price objective on shares of Oshkosh from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Evercore ISI reduced their target price on shares of Oshkosh from $137.00 to $119.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. dropped their price target on Oshkosh from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.79.

Oshkosh Stock Performance

Shares of NYSE OSK opened at $102.50 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.44. The stock has a 50 day moving average price of $104.79 and a 200 day moving average price of $111.38. The stock has a market capitalization of $6.70 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.19. Oshkosh Co. has a 52 week low of $86.10 and a 52 week high of $127.98.

Oshkosh (NYSE:OSK) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.00 by $0.34. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.78 billion. Oshkosh had a return on equity of 20.83% and a net margin of 6.58%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.69 EPS. Analysts predict that Oshkosh Co. will post 11.66 earnings per share for the current fiscal year.

Oshkosh Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.46 per share. The ex-dividend date was Friday, August 16th. This represents a $1.84 annualized dividend and a dividend yield of 1.80%. Oshkosh’s dividend payout ratio is presently 17.61%.

Oshkosh Company 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.