Envestnet Asset Management Inc. Reduces Stock Holdings in Terex Corporation (NYSE:TEX)

Envestnet Asset Management Inc. trimmed its position in shares of Terex Corporation (NYSE:TEX - Free Report) by 35.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,789 shares of the industrial products company's stock after selling 12,882 shares during the period. Envestnet Asset Management Inc.'s holdings in Terex were worth $899,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Terex by 17.0% in the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company's stock worth $405,917,000 after buying an additional 1,272,920 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Terex by 94.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company's stock valued at $99,404,000 after purchasing an additional 1,046,600 shares during the period. First Trust Advisors LP grew its position in Terex by 43.2% in the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company's stock worth $89,247,000 after purchasing an additional 582,819 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Terex in the fourth quarter worth about $59,179,000. Finally, Northern Trust Corp grew its position in Terex by 10.5% in the fourth quarter. Northern Trust Corp now owns 893,614 shares of the industrial products company's stock worth $41,303,000 after buying an additional 85,094 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised Terex from a "neutral" rating to a "buy" rating and increased their price objective for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. Truist Financial set a $62.00 price target on Terex in a report on Monday. Evercore ISI increased their price target on shares of Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird raised Terex from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $48.00 to $66.00 in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.22.

Terex Stock Down 0.8%

TEX traded down $0.41 during trading on Thursday, reaching $48.17. The stock had a trading volume of 375,573 shares, compared to its average volume of 964,772. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 1.31. The stock's 50 day moving average is $48.45 and its two-hundred day moving average is $43.83. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 4.98 and a beta of 1.62. Terex Corporation has a one year low of $31.53 and a one year high of $58.66.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Terex had a net margin of 3.46% and a return on equity of 15.95%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 earnings per share. As a group, analysts expect that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 11th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Terex's payout ratio is currently 25.37%.

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.