Moran Wealth Management LLC Acquires 1,209 Shares of Terex Co. (NYSE:TEX)

Moran Wealth Management LLC lifted its stake in Terex Co. (NYSE:TEX) by 2.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 45,339 shares of the industrial products company’s stock after acquiring an additional 1,209 shares during the period. Moran Wealth Management LLC’s holdings in Terex were worth $2,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after buying an additional 187 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after buying an additional 335 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after buying an additional 504 shares during the period. International Assets Investment Management LLC bought a new stake in Terex during the second quarter valued at about $109,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Terex in the second quarter valued at about $111,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TEX shares. The Goldman Sachs Group decreased their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Truist Financial lifted their price target on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird dropped their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Evercore ISI dropped their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.56.

Terex Stock Performance

NYSE:TEX opened at $52.89 on Friday. The firm has a market capitalization of $3.53 billion, a PE ratio of 7.72, a PEG ratio of 4.15 and a beta of 1.53. The stock’s fifty day moving average is $53.38 and its 200 day moving average is $55.52. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39.

Terex (NYSE:TEX) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business earned $1.75 EPS. On average, sell-side analysts anticipate that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, November 8th. Terex’s payout ratio is currently 9.93%.

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.