Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Terex Corporation $TEX

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Terex Corporation by 44.3%, now owning 1,027,830 shares valued at approximately $51.2 million.
• Goldman Sachs upgraded Terex from a "neutral" to a "buy" rating, raising its price target from $45 to $60.
• Terex recently declared a quarterly dividend of $0.17 per share, with a yield of 1.3% and an anticipated payout ratio of 25.37%.

Wealth Enhancement Advisory Services LLC increased its position in shares of Terex Corporation (NYSE:TEX - Free Report) by 44.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,027,830 shares of the industrial products company's stock after purchasing an additional 315,331 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 1.55% of Terex worth $51,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in 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 purchasing an additional 424 shares during the last quarter. Private Trust Co. NA lifted its holdings in Terex by 128.0% during the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock worth $29,000 after purchasing an additional 434 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Terex by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 227,876 shares of the industrial products company's stock worth $8,609,000 after purchasing an additional 3,525 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Terex by 65.3% during the 1st quarter. GAMMA Investing LLC now owns 1,309 shares of the industrial products company's stock worth $49,000 after purchasing an additional 517 shares during the last quarter. Finally, State of Wyoming acquired a new position in Terex in the 4th quarter valued at $141,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Scott Posner sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total transaction of $252,500.00. Following the transaction, the vice president directly owned 70,308 shares of the company's stock, valued at approximately $3,550,554. This represents a 6.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

Terex Trading Down 2.5%

Shares of Terex stock traded down $1.34 on Friday, hitting $52.03. 1,502,568 shares of the company's stock traded hands, compared to its average volume of 729,526. Terex Corporation has a one year low of $31.53 and a one year high of $58.66. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.08 and a quick ratio of 1.11. The company has a fifty day moving average of $50.88 and a two-hundred day moving average of $45.11. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 5.38 and a beta of 1.65.

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

Terex Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised Terex from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. Wall Street Zen raised Terex from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. UBS Group lifted their price objective on Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, Truist Financial set a $62.00 price objective on Terex in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company 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.