Financial firm Greenhaven Associates Inc. has increased its holdings in Oshkosh Co. by 20.5% during the second quarter of this fiscal year, according to recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor now owns 2,357,828 shares of Oshkosh’s stock after purchasing an additional 400,519 shares in the same period. This makes Oshkosh approximately 2.7% of Greenhaven Associates Inc.’s portfolio, ranking it as their 14th largest holding. At the time of its most recent SEC filing, Greenhaven Associates Inc.’s ownership represented approximately 3.61% of Oshkosh’s overall value, which amounted to $204,164,000.
Oshkosh (NYSE:OSK) recently published its quarterly earnings data on Tuesday, August 1st. With earnings per share (EPS) of $2.69 for Q2, the company surpassed the consensus estimate by $1.12 per share – beating expectations significantly. Moreover, during this quarter, Oshkosh reported revenue of $2.41 billion compared to a consensus estimate of $2.25 billion from market analysts. This demonstrates significant growth for the company.
In terms of profitability measures, Oshkosh boasted a net margin of 4.45% and a return on equity (ROE) rate of 14.22%. These figures show that the company is utilizing its assets and investments effectively while still focusing on generating profits for its shareholders.
Furthermore, when comparing Q2 financial results year-over-year, Oshkosh experienced an impressive increase in revenue by 16.8%. In the same quarter last year, their earnings per share stood at just $0.41.
Equities analysts have also weighed in on Oshkosh’s performance recently; Raymond James raised their target price from $100.00 to $120.00 and gave the stock an “outperform” rating in their research report on August 2nd. Argus upgraded Oshkosh from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company on August 31st. Credit Suisse Group also increased their target price from $96.00 to $115.00 and gave the stock an “outperform” rating on August 3rd.
Similarly, JPMorgan Chase & Co. raised its price objective on shares of Oshkosh from $97.00 to $110.00 and maintained a “neutral” rating on the stock in a report also published on August 2nd.
In conclusion, Oshkosh Co.’s strong performance in terms of revenue growth as well as exceeding earnings per share expectations has attracted the attention of both investors and analysts. As evidenced by these positive indicators, Oshkosh is demonstrating its ability to deliver value to stakeholders, making it an appealing investment option for portfolio managers like Greenhaven Associates Inc., who have significantly increased their holdings in the company. The consensus among analysts suggests that Oshkosh is poised for continued success, with a target price of $109.07.
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Large Investors Show Confidence in Oshkosh Co. as Internal Activities Reflect Market Potential
In the realm of financial markets, it is often captivating to follow the movements and decisions made by large investors. They possess a wealth of knowledge and expertise that can shape the direction of a company’s trajectory. Recently, prominent investors have made notable adjustments to their holdings in Oshkosh Co., a leading industrial company.
One such investor is WealthPLAN Partners LLC, which acquired a new stake in Oshkosh during the first quarter of this year. The value of this stake amounted to $25,000, indicating a considerable level of confidence in the company’s potential for growth.
Money Concepts Capital Corp also expressed its faith in Oshkosh by raising its stake in the company by a staggering 1,359.1%. This move exhibits an extraordinary level of conviction in Oshkosh’s ability to yield profitable returns. Money Concepts Capital Corp now owns 321 shares valued at $28,000.
SRS Capital Advisors Inc., another influential investor, demonstrated its commitment to Oshkosh as well. By lifting its holdings in the company by 284.1% during the last quarter, SRS Capital Advisors Inc. now possesses 434 shares worth $38,000.
Belpointe Asset Management LLC similarly boosted its stake in Oshkosh by 108.5% during the first quarter. The increase saw them acquire an additional 267 shares valued at $43,000.
Lastly, BOKF NA entered into the mix by purchasing a new stake in Oshkosh during the first quarter worth approximately $87,000. These investments collectively speak volumes about Oshkosh’s appeal and potential among institutional investors and hedge funds as they now own 88.71% of its stock.
Beyond these significant transactions conducted by key investors, there have been noteworthy internal activities within Oshkosh itself that deserve mention. CFO Michael E. Pack recently sold 8,075 shares of the company’s stock in a transaction on August 30th, amounting to a total value of $832,613.25. Following this sale, Pack now directly owns 16,974 shares valued at approximately $1,750,189.14.
In addition to Pack’s sale, SVP John S. Verich also divested himself of some Oshkosh stock. On August 31st, Verich sold 400 shares at an average price of $103.88 per share, resulting in a total transaction value of $41,552. This move reduced his ownership to 3,050 shares worth $316,834.
It is important to acknowledge that these transactions were disclosed to the Securities and Exchange Commission (SEC) as part of their commitment to transparency and accountability in corporate activities. The documentation related to these sales can be accessed through links provided by the SEC.
Notably, insiders at Oshkosh have collectively sold 29,025 shares of the company’s stock in the past three months alone. The total value of these sales amounts to an impressive $3,033,452. This figure represents 0.64% of the company’s overall stock ownership by corporate insiders.
Turning our attention to Oshkosh’s current market dynamics and performance data provides additional insights into its standing within the financial landscape. As of September 20th, 2023, Oshkosh began trading at $98.24 per share.
Key financial indicators underscore Oshkosh’s stability and potential for sustained growth. With a debt-to-equity ratio of only 0.18 and current and quick ratios indicating strong liquidity (1.81 and 1.03 respectively), there appears to be little cause for concern regarding its financial standing.
Oshkosh has displayed resilience by maintaining a robust market capitalization of $6.42 billion despite fluctuations in market conditions over time. Moreover, the company’s price-to-earnings ratio stands at 16.24, suggesting that its stock is currently undervalued compared to its earnings potential. The price-to-earnings-to-growth ratio is an impressive 0.34, reinforcing the notion of Oshkosh being a promising investment.
Lastly, it is worth noting that Oshkosh has shown a level of market volatility with a beta value of 1.40. This figure indicates that the company’s stock price could experience fluctuations greater than the broader market average.
In summary, various large investors have demonstrated their support and enthusiasm for Oshkosh Co., making significant modifications in their holdings over recent quarters. These investments are indicative of their confidence in the company’s potential for future growth and prosperity. Additionally, internal activities involving the sale of shares by corporate insiders provide further insight into Oshkosh’s financial landscape.
Presented alongside relevant market data and performance metrics, these developments paint a picture of an industrially-focused company poised to capitalize on opportunities within its industry. However, as with any investment endeavor, it is essential for investors to conduct due diligence and carefully consider all available information before making decisions based on these findings.
