Norges Bank Makes New $72.69 Million Investment in Oshkosh Co. (NYSE:OSK)

Norges Bank purchased a new stake in shares of Oshkosh Co. (NYSE:OSK - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 764,615 shares of the company's stock, valued at approximately $72,692,000. Norges Bank owned about 1.18% of Oshkosh as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Congress Wealth Management LLC DE increased its holdings in Oshkosh by 9.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,181 shares of the company's stock worth $588,000 after buying an additional 555 shares during the period. Vanguard Group Inc. increased its stake in shares of Oshkosh by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 8,141,738 shares of the company's stock worth $774,035,000 after acquiring an additional 176,400 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Oshkosh during the fourth quarter worth $1,274,000. Sei Investments Co. lifted its position in Oshkosh by 7.1% during the fourth quarter. Sei Investments Co. now owns 528,940 shares of the company's stock valued at $50,289,000 after purchasing an additional 35,072 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Oshkosh by 23.3% in the fourth quarter. American Century Companies Inc. now owns 2,030,410 shares of the company's stock valued at $193,031,000 after purchasing an additional 384,141 shares during the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OSK. Bank of America boosted their price objective on Oshkosh from $95.00 to $110.00 and gave the company an "underperform" rating in a report on Monday, February 10th. KeyCorp boosted their price target on Oshkosh from $113.00 to $132.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Evercore ISI raised their price objective on shares of Oshkosh from $122.00 to $137.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Oshkosh from $98.00 to $110.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Finally, Truist Financial raised their price target on shares of Oshkosh from $109.00 to $118.00 and gave the company a "hold" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Oshkosh has a consensus rating of "Hold" and a consensus price target of $121.31.

Oshkosh Price Performance

Shares of OSK stock traded down $1.22 on Monday, reaching $81.36. 1,258,669 shares of the company were exchanged, compared to its average volume of 580,399. Oshkosh Co. has a 1 year low of $76.82 and a 1 year high of $127.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 1.51. The business has a 50-day moving average price of $100.90 and a 200 day moving average price of $101.76. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 1.45 and a beta of 1.26.

Oshkosh (NYSE:OSK - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.22 by $0.36. Oshkosh had a return on equity of 19.31% and a net margin of 6.34%. Equities research analysts forecast that Oshkosh Co. will post 10.96 earnings per share for the current fiscal year.

Oshkosh Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.51%. The ex-dividend date was Friday, February 14th. This is a boost from Oshkosh's previous quarterly dividend of $0.46. Oshkosh's payout ratio is 19.71%.

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.