Prudential Financial Inc. Has $10.83 Million Stock Position in Terex Co. (NYSE:TEX)

Prudential Financial Inc. cut its holdings in shares of Terex Co. (NYSE:TEX) by 45.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 234,285 shares of the industrial products company’s stock after selling 196,693 shares during the quarter. Prudential Financial Inc.’s holdings in Terex were worth $10,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new stake in shares of Terex during the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its position in Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Terex during the 3rd quarter valued at $40,000. VisionPoint Advisory Group LLC purchased a new position in shares of Terex during the 4th quarter valued at $51,000. Finally, Blue Trust Inc. increased its stake in shares of Terex by 26.8% in the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andra Rush acquired 1,325 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now owns 23,308 shares in the company, valued at $861,463.68. This trade represents a 6.03 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TEX shares. Evercore ISI reduced their price objective on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. The Goldman Sachs Group dropped their price objective on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Truist Financial reduced their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Citigroup dropped their price target on shares of Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.22.

Terex Price Performance

Shares of Terex stock opened at $38.47 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The firm has a fifty day simple moving average of $43.45 and a 200-day simple moving average of $48.54. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 4.53 and a beta of 1.56. Terex Co. has a 1-year low of $36.15 and a 1-year high of $68.08.

Terex (NYSE:TEX) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter last year, the business posted $1.88 earnings per share. On average, sell-side analysts expect that Terex Co. will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, March 7th. Terex’s dividend payout ratio (DPR) is currently 13.71%.

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.