VIRGINIA RETIREMENT SYSTEMS ET Al Sells 23,600 Shares of Terex Corporation $TEX

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in shares of Terex Corporation (NYSE:TEX) by 45.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 28,100 shares of the industrial products company’s stock after selling 23,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Terex were worth $1,478,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TEX. BlackRock Inc. acquired a new stake in shares of Terex during the 2nd quarter worth $1,063,541,000. Freestone Grove Partners LP purchased a new position in shares of Terex in the 2nd quarter worth $116,558,000. Arrowstreet Capital Limited Partnership boosted its holdings in Terex by 11,448.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,238,924 shares of the industrial products company’s stock valued at $73,220,000 after acquiring an additional 1,228,196 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Terex by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,442,435 shares of the industrial products company’s stock valued at $262,527,000 after acquiring an additional 1,008,444 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Terex in the second quarter valued at $68,204,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEX has been the subject of a number of research reports. Barclays boosted their price target on Terex from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Citigroup cut their price objective on Terex from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Wells Fargo & Company reduced their price objective on Terex from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, October 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a research note on Thursday, October 15th. Finally, Truist Financial reiterated a “buy” rating and set a $87.00 target price (up from $85.00) on shares of Terex in a report on Thursday, October 29th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.73.

Terex Price Performance

Terex stock opened at $57.60 on Thursday. Terex Corporation has a 52-week low of $41.70 and a 52-week high of $74.69. The firm has a fifty day moving average of $56.71 and a 200-day moving average of $61.83. The firm has a market capitalization of $6.47 billion, a P/E ratio of 29.09, a PEG ratio of 1.06 and a beta of 1.48. The company has a quick ratio of 0.92, a current ratio of 1.76 and a debt-to-equity ratio of 0.52.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 28th. The industrial products company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.16 billion. Terex had a net margin of 2.64% and a return on equity of 11.79%. The business’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 EPS. As a group, analysts predict that Terex Corporation will post 4.92 EPS for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 9th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, November 9th. Terex’s dividend payout ratio is currently 34.34%.

About Terex

Terex Corporation (NYSE:TEX) is a global manufacturer of equipment used in construction, infrastructure development, utilities, recycling and material processing. The company designs and produces machinery intended to help customers build, maintain and improve transportation networks, commercial sites, utility systems and industrial facilities.

Terex operates primarily through its Aerial Work Platforms and Materials Processing businesses. Its products include aerial lifts, telehandlers and other access equipment, as well as crushing, screening, conveying, washing, recycling and environmental-processing machinery.