Invesco Ltd. Has $15.08 Million Holdings in Terex Corporation $TEX

Key Points

• Invesco Ltd. significantly reduced its stake in Terex Corporation by 67.1% in the first quarter, now holding about 399,192 shares valued at $15.08 million.
• Terex's stock price increased by 6.5%, and the company reported quarterly earnings of $1.49 per share, beating analysts' expectations.
• The firm announced a quarterly dividend of $0.17 per share, representing a 1.3% yield, with an ex-dividend date of August 11th.

Invesco Ltd. cut its position in Terex Corporation (NYSE:TEX - Free Report) by 67.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 399,192 shares of the industrial products company's stock after selling 813,489 shares during the quarter. Invesco Ltd. owned about 0.60% of Terex worth $15,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in shares of Terex by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company's stock valued at $1,695,000 after acquiring an additional 237 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Terex by 56.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company's stock worth $32,000 after purchasing an additional 307 shares in the last quarter. UMB Bank n.a. increased its position in shares of Terex by 83.0% in the first quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock worth $28,000 after purchasing an additional 332 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Terex by 21.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the industrial products company's stock valued at $106,000 after buying an additional 400 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Terex by 88.1% during the 1st quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock worth $34,000 after acquiring an additional 424 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Terex

In other news, VP Scott Posner sold 5,000 shares of Terex stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $50.50, for a total value of $252,500.00. Following the completion of the sale, the vice president owned 70,308 shares in the company, valued at $3,550,554. The trade was a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.

Terex Trading Up 1.3%

NYSE:TEX traded up $0.67 on Wednesday, reaching $52.44. 193,717 shares of the stock traded hands, compared to its average volume of 934,695. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 1.31. Terex Corporation has a 1-year low of $31.53 and a 1-year high of $58.66. The company's 50 day moving average is $49.59 and its 200-day moving average is $44.06. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 5.15 and a beta of 1.62.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.05. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. Terex had a net margin of 3.46% and a return on equity of 15.95%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. Equities research analysts anticipate that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, August 11th. Terex's dividend payout ratio is presently 25.37%.

Wall Street Analyst Weigh In

TEX has been the subject of a number of research analyst reports. Wall Street Zen raised Terex from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Baird R W raised Terex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and raised their price target for the company from $45.00 to $60.00 in a research note on Tuesday, May 27th. Evercore ISI upped their price objective on shares of Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Truist Financial set a $62.00 price objective on shares of Terex in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.22.

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.