Terex Corporation $TEX Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Terex Corporation (NYSE:TEX) by 183.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,045 shares of the industrial products company’s stock after buying an additional 259,993 shares during the period. Principal Financial Group Inc. owned 0.35% of Terex worth $23,761,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC grew its position in shares of Terex by 1,086.3% during the first quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock worth $9,674,000 after acquiring an additional 234,470 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Terex by 427.2% during the 1st quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 2,841 shares during the period. Goldman Sachs Group Inc. boosted its stake in Terex by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company’s stock valued at $41,263,000 after purchasing an additional 40,077 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Terex by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,210 shares of the industrial products company’s stock worth $7,375,000 after purchasing an additional 1,597 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Terex by 47.4% in the first quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company’s stock valued at $1,719,000 after purchasing an additional 14,629 shares during the period. 92.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEX. DA Davidson assumed coverage on Terex in a report on Wednesday, June 24th. They set a “strong-buy” rating and a $81.00 price target on the stock. Wall Street Zen lowered Terex from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial raised their target price on Terex from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Barclays lifted their target price on Terex from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Terex in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.45.

Insider Transactions at Terex

In related news, insider Joshua Gross sold 5,874 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $61.53, for a total value of $361,427.22. Following the transaction, the insider directly owned 48,706 shares in the company, valued at approximately $2,996,880.18. This trade represents a 10.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Terex Stock Down 3.6%

Shares of TEX stock opened at $63.05 on Tuesday. The stock’s 50 day simple moving average is $64.09 and its 200 day simple moving average is $62.57. Terex Corporation has a twelve month low of $41.70 and a twelve month high of $74.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.84. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.02 and a beta of 1.49.

Terex (NYSE:TEX) last announced its earnings results on Friday, May 1st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.20. Terex had a return on equity of 13.43% and a net margin of 1.87%.The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up 41.1% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. As a group, research analysts predict that Terex Corporation will post 4.85 EPS for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 11th. Terex’s dividend payout ratio is currently 32.54%.

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.