OSK - Oshkosh: A 2024E Update The Company Is Too Expensive (Downgrade)

2024-03-28 08:54:19 ET

Summary

• Oshkosh is a niche business with attractive potential at the right price.
• The company's dividend increase indicates its value, though the dividend is relatively low compared to other businesses in the field, as well as available on the market today.
• Oshkosh is a century-old innovator in purpose-built vehicle design, including zero-emission options. The company is in specialized fields, but trades at a high valuation.

Dear readers/followers,

It's time to update on a company that I have not written about for almost 1.5 years. In this case, I'm talking about Oshkosh ( OSK ), where my last article was published back in September of 2022. You can find that article here , and the article came with a positive "BUY" rating at the time. In fact, I have a small position that I've kept around since then, and as you can see, that position has significantly outperformed the market, making it what I considered a very successful investment for the past 2 years.

It highlights, as I see it, two lessons that I try to impart in my articles. First of all, the lesson of buying at undervaluation. Secondly, the lesson of patience. Both of these are crucial to successful investing, as I see it. Applying these correctly can result in outperformance, and it is this that I in fact depend on in my own work....

For further details see: