Norges Bank Acquires New Stake in Terex Corporation $TEX

Key Points

• Norges Bank opened a new position in Terex during the fourth quarter, buying 633,722 shares valued at about $33.8 million and representing roughly 0.97% of the company.
• Terex posted strong quarterly results, with EPS of $0.98 beating estimates and revenue of $1.73 billion topping expectations; the company also raised its FY2026 guidance to 4.50–5.00 EPS.
• The company declared a quarterly dividend of $0.17 per share and saw upbeat analyst coverage, with a consensus rating of Moderate Buy and an average price target of $75.30.

Norges Bank acquired a new stake in Terex Corporation (NYSE:TEX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 633,722 shares of the industrial products company's stock, valued at approximately $33,828,000. Norges Bank owned about 0.97% of Terex as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TEX. Wellington Management Group LLP acquired a new position in Terex in the 3rd quarter valued at $121,724,000. Invesco Ltd. increased its stake in shares of Terex by 801.3% in the 3rd quarter. Invesco Ltd. now owns 1,603,965 shares of the industrial products company's stock worth $82,283,000 after acquiring an additional 1,425,996 shares during the last quarter. UBS Group AG increased its stake in shares of Terex by 168.5% in the 3rd quarter. UBS Group AG now owns 964,495 shares of the industrial products company's stock worth $49,479,000 after acquiring an additional 605,337 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Terex in the 4th quarter worth $15,449,000. Finally, Millennium Management LLC increased its stake in shares of Terex by 1,086.3% in the 1st quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company's stock worth $9,674,000 after acquiring an additional 234,470 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Up 3.8%

Shares of NYSE:TEX opened at $62.73 on Tuesday. The business has a 50-day moving average price of $60.66 and a 200 day moving average price of $59.00. The company has a current ratio of 1.84, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 30.02, a PEG ratio of 0.94 and a beta of 1.53. Terex Corporation has a 12-month low of $41.70 and a 12-month high of $71.50.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.20. Terex had a return on equity of 13.43% and a net margin of 1.87%.The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.83 EPS. The company's quarterly revenue was up 41.1% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. Sell-side analysts expect that Terex Corporation will post 4.87 EPS for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Terex's dividend payout ratio is 32.54%.

Analysts Set New Price Targets

A number of brokerages have issued reports on TEX. Wells Fargo & Company raised their target price on Terex from $56.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, February 13th. Barclays began coverage on Terex in a research note on Tuesday, March 31st. They issued an "overweight" rating and a $65.00 target price for the company. Wall Street Zen downgraded Terex from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Robert W. Baird set a $100.00 target price on Terex in a research note on Thursday, February 12th. Finally, Zacks Research raised Terex from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $75.30.

Insider Transactions at Terex

In other Terex news, insider Joshua Gross sold 5,874 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $61.53, for a total transaction of $361,427.22. Following the sale, the insider directly owned 48,706 shares in the company, valued at $2,996,880.18. This represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Terex Profile

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.

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