Wedge Capital Management L L P NC Sells 7,384 Shares of Oshkosh Co. (NYSE:OSK)

Wedge Capital Management L L P NC cut its stake in Oshkosh Co. (NYSE:OSK) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 111,618 shares of the company’s stock after selling 7,384 shares during the period. Wedge Capital Management L L P NC’s holdings in Oshkosh were worth $10,612,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OSK. Carolina Wealth Advisors LLC increased its stake in Oshkosh by 2.5% in the fourth quarter. Carolina Wealth Advisors LLC now owns 6,062 shares of the company’s stock valued at $576,000 after purchasing an additional 146 shares in the last quarter. Covea Finance grew its holdings in shares of Oshkosh by 81.8% in the 4th quarter. Covea Finance now owns 30,000 shares of the company’s stock valued at $2,852,000 after buying an additional 13,500 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Oshkosh by 29.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 312,134 shares of the company’s stock valued at $29,675,000 after buying an additional 71,911 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Oshkosh by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 195,906 shares of the company’s stock worth $19,632,000 after buying an additional 28,478 shares during the period. Finally, Franklin Resources Inc. bought a new position in Oshkosh during the third quarter worth about $532,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Oshkosh Price Performance

NYSE:OSK opened at $95.55 on Friday. The stock’s 50-day simple moving average is $101.77 and its 200 day simple moving average is $103.44. Oshkosh Co. has a 52-week low of $89.08 and a 52-week high of $127.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 1.46. The company has a market cap of $6.22 billion, a P/E ratio of 9.28, a P/E/G ratio of 0.94 and a beta of 1.21.

Oshkosh (NYSE:OSK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.06. Oshkosh had a return on equity of 19.87% and a net margin of 6.41%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.63 billion. As a group, sell-side analysts forecast that Oshkosh Co. will post 11.35 EPS for the current fiscal year.

Oshkosh Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, November 15th. Oshkosh’s dividend payout ratio (DPR) is presently 17.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird dropped their price target on Oshkosh from $171.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Truist Financial dropped their target price on shares of Oshkosh from $116.00 to $109.00 and set a “hold” rating on the stock in a report on Thursday. UBS Group reduced their price target on shares of Oshkosh from $129.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Citigroup dropped their price objective on shares of Oshkosh from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Oshkosh from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.77.

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.