Waterfront Wealth Inc. Cuts Position in Terex Co. (NYSE:TEX)

Waterfront Wealth Inc. lowered its stake in Terex Co. (NYSE:TEX) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,346 shares of the industrial products company’s stock after selling 462 shares during the quarter. Waterfront Wealth Inc.’s holdings in Terex were worth $1,227,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Terex by 6.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,700 shares of the industrial products company’s stock valued at $1,534,000 after buying an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Terex by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,196 shares of the industrial products company’s stock valued at $931,000 after buying an additional 353 shares in the last quarter. Cornercap Investment Counsel Inc. grew its stake in shares of Terex by 90.9% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 18,121 shares of the industrial products company’s stock valued at $1,041,000 after buying an additional 8,631 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Terex in the fourth quarter valued at about $1,086,000. Finally, Perigon Wealth Management LLC grew its stake in shares of Terex by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 8,831 shares of the industrial products company’s stock valued at $507,000 after buying an additional 563 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Buying and Selling at Terex

In other Terex news, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the sale, the insider now owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 59,094 shares of Terex stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the transaction, the chief executive officer now directly owns 380,834 shares in the company, valued at approximately $22,876,698.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the transaction, the insider now owns 198,619 shares in the company, valued at $11,281,559.20. The disclosure for this sale can be found here. Insiders have sold 132,039 shares of company stock valued at $8,078,574 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEX. Citigroup increased their target price on Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. The Goldman Sachs Group raised their price objective on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Truist Financial assumed coverage on Terex in a research note on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective for the company. Evercore ISI lowered their price objective on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. lowered Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.08.

Terex Stock Performance

Shares of NYSE TEX traded down $1.36 during mid-day trading on Wednesday, hitting $60.71. The company had a trading volume of 896,724 shares, compared to its average volume of 704,204. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.62 and a beta of 1.64. Terex Co. has a 12 month low of $42.50 and a 12 month high of $65.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $59.74 and its two-hundred day simple moving average is $55.98.

Terex (NYSE:TEX) last announced its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. Terex had a return on equity of 32.89% and a net margin of 10.06%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. As a group, equities research analysts forecast that Terex Co. will post 6.95 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.12%. The ex-dividend date was Thursday, March 7th. Terex’s payout ratio is currently 8.96%.

Terex Company Profile

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.