Terex Corporation $TEX Shares Bought by The Manufacturers Life Insurance Company

Key Points

• Institutional ownership increased: The Manufacturers Life Insurance Company raised its Terex stake by 69.4% to 105,270 shares, while institutional investors collectively own 92.88% of the company.
• Analyst sentiment is moderately bullish: Terex has a consensus “Moderate Buy” rating and an average price target of $78.91, with recent targets ranging from $80 to $96.
• Quarterly performance exceeded expectations: Terex reported adjusted EPS of $1.37 and revenue of $2.24 billion, beating estimates and representing 50.5% year-over-year revenue growth. The company also declared a $0.17 quarterly dividend, equivalent to a 1.0% yield.

The Manufacturers Life Insurance Company lifted its stake in Terex Corporation (NYSE:TEX - Free Report) by 69.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,270 shares of the industrial products company's stock after buying an additional 43,120 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Terex worth $6,221,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Terex by 29.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,442,435 shares of the industrial products company's stock worth $262,527,000 after acquiring an additional 1,008,444 shares in the last quarter. Wellington Management Group LLP grew its position in Terex by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 2,798,109 shares of the industrial products company's stock valued at $149,363,000 after acquiring an additional 425,322 shares in the last quarter. Morgan Stanley raised its stake in shares of Terex by 77.2% during the fourth quarter. Morgan Stanley now owns 1,669,042 shares of the industrial products company's stock valued at $89,094,000 after purchasing an additional 727,277 shares during the period. Invesco Ltd. raised its stake in shares of Terex by 1.0% during the fourth quarter. Invesco Ltd. now owns 1,620,342 shares of the industrial products company's stock valued at $86,494,000 after purchasing an additional 16,377 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Terex by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,616,942 shares of the industrial products company's stock worth $86,326,000 after purchasing an additional 6,707 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company's stock.

Analysts Set New Price Targets

TEX has been the subject of several analyst reports. Evercore restated an "outperform" rating and issued a $81.00 target price on shares of Terex in a research note on Monday, May 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Terex in a research note on Friday, July 17th. Citigroup boosted their price objective on shares of Terex from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Zacks Research upgraded Terex from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Finally, Truist Financial raised their target price on Terex from $92.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $78.91.

Terex Stock Up 0.3%

TEX stock opened at $66.25 on Thursday. Terex Corporation has a twelve month low of $41.70 and a twelve month high of $74.69. The company has a current ratio of 1.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.57 billion, a P/E ratio of 33.80, a PEG ratio of 1.02 and a beta of 1.51. The firm has a 50 day simple moving average of $65.71 and a 200-day simple moving average of $63.26.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.14. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.14 billion. Terex had a net margin of 2.23% and a return on equity of 12.24%. The business's revenue was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. On average, equities research analysts predict that Terex Corporation will post 4.93 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Terex's dividend payout ratio (DPR) is currently 34.69%.

Terex Company 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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