Wellington Management Group LLP Cuts Position in Terex Corporation $TEX

Key Points

• Wellington Management reduced its Terex stake by 11% in the second quarter, selling 411,282 shares and retaining 3.34 million shares worth approximately $241.6 million. Institutional investors collectively own 92.88% of Terex.
• Analyst sentiment remains positive, with Terex carrying a “Moderate Buy” consensus rating and an average price target of $78.91, although JPMorgan lowered its target to $68 while other firms raised targets or maintained bullish ratings.
• Terex reported quarterly EPS of $1.37 and revenue of $2.24 billion, exceeding analyst estimates, with revenue up 50.5% year over year. The company also declared a quarterly dividend of $0.17 per share, equating to a 1.1% annualized yield.

Wellington Management Group LLP decreased its holdings in Terex Corporation (NYSE:TEX - Free Report) by 11.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,337,162 shares of the industrial products company's stock after selling 411,282 shares during the quarter. Wellington Management Group LLP owned 2.92% of Terex worth $241,577,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Terex in the second quarter valued at approximately $1,063,541,000. Freestone Grove Partners LP acquired a new stake in Terex in the 2nd quarter valued at $116,558,000. Invesco Ltd. increased its holdings in 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 in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Terex during the fourth quarter worth $69,802,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Terex by 11,448.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,238,924 shares of the industrial products company's stock worth $73,220,000 after acquiring an additional 1,228,196 shares during the period. Hedge funds and other institutional investors own 92.88% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on TEX shares. JPMorgan Chase & Co. cut their target price on shares of Terex from $80.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Truist Financial boosted their price objective on Terex from $92.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Barclays raised their target price on Terex from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Evercore reaffirmed an "outperform" rating and issued a $81.00 price target on shares of Terex in a research note on Monday, May 11th. Finally, DA Davidson initiated coverage on Terex in a research report on Wednesday, June 24th. They set a "strong-buy" rating and a $81.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Terex presently has an average rating of "Moderate Buy" and an average target price of $78.91.

Terex Stock Up 0.2%

Shares of NYSE TEX opened at $63.85 on Monday. Terex Corporation has a 12-month low of $41.70 and a 12-month high of $74.69. The stock has a market cap of $7.30 billion, a PE ratio of 32.58, a P/E/G ratio of 0.97 and a beta of 1.51. 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 50-day moving average of $66.87 and a 200 day moving average of $63.92.

Terex (NYSE:TEX - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.14. The business had revenue of $2.24 billion for 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% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. As a group, sell-side analysts predict that Terex Corporation will post 5 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 11th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Terex's dividend payout ratio (DPR) is presently 34.69%.

About Terex

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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