Kestra Investment Management LLC Reduces Position in Terex Co. (NYSE:TEX)

Kestra Investment Management LLC trimmed its stake in Terex Co. (NYSE:TEX) by 51.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,027 shares of the industrial products company’s stock after selling 3,250 shares during the quarter. Kestra Investment Management LLC’s holdings in Terex were worth $140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Terex during the 3rd quarter worth about $40,000. Truvestments Capital LLC acquired a new stake in shares of Terex during the 3rd quarter worth about $41,000. Blue Trust Inc. grew its holdings in shares of Terex by 89.3% during the third quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock worth $53,000 after buying an additional 457 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after buying an additional 504 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Terex by 19.9% during the third quarter. Covestor Ltd now owns 2,237 shares of the industrial products company’s stock valued at $119,000 after buying an additional 372 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David A. Sachs acquired 20,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the purchase, the director now directly owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TEX. Barclays lowered their target price on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Evercore ISI lowered their price target on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Robert W. Baird dropped their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.11.

Terex Stock Down 3.5 %

Shares of NYSE:TEX opened at $45.57 on Friday. The stock has a 50-day simple moving average of $46.39 and a 200-day simple moving average of $51.02. The stock has a market capitalization of $3.03 billion, a P/E ratio of 9.19, a PEG ratio of 4.73 and a beta of 1.54. Terex Co. has a 1 year low of $43.23 and a 1 year high of $68.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.

Terex (NYSE:TEX) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the company earned $1.88 earnings per share. Equities analysts forecast that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, March 7th. Terex’s dividend payout ratio (DPR) is presently 13.71%.

About Terex

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.