Covestor Ltd Raises Stake in Terex Co. (NYSE:TEX)

Covestor Ltd boosted its stake in Terex Co. (NYSE:TEX) by 19.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,237 shares of the industrial products company’s stock after purchasing an additional 372 shares during the quarter. Covestor Ltd’s holdings in Terex were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its holdings in shares of Terex by 2.6% in the first quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock worth $22,614,000 after purchasing an additional 8,908 shares during the period. TCW Group Inc. bought a new position in Terex in the 2nd quarter worth about $566,000. Russell Investments Group Ltd. raised its holdings in shares of Terex by 11.5% in the 1st quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock valued at $20,395,000 after acquiring an additional 32,630 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Terex by 26.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after acquiring an additional 22,291 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after purchasing an additional 44,432 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

TEX has been the topic of a number of recent analyst reports. Truist Financial raised their target price on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. The Goldman Sachs Group lowered their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Finally, Evercore ISI cut their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.56.

Terex Trading Down 4.3 %

NYSE TEX opened at $53.20 on Wednesday. The stock has a 50-day moving average of $53.15 and a 200-day moving average of $55.75. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The firm has a market cap of $3.55 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 4.50 and a beta of 1.53.

Terex (NYSE:TEX) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Terex Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.