Principal Financial Group Inc. Acquires 259,993 Shares of Terex Corporation $TEX

Principal Financial Group Inc. boosted its holdings in Terex Corporation (NYSE:TEX) by 183.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 402,045 shares of the industrial products company’s stock after purchasing an additional 259,993 shares during the period. Principal Financial Group Inc.’s holdings in Terex were worth $23,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of TEX. EverSource Wealth Advisors LLC boosted its position in shares of Terex by 167.0% in the second quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 369 shares during the period. Strs Ohio bought a new position in Terex during the first quarter worth $30,000. Capital Advisors Ltd. LLC raised its stake in Terex by 856.2% during the 1st quarter. Capital Advisors Ltd. LLC now owns 851 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 762 shares during the last quarter. UMB Bank n.a. raised its stake in Terex by 15.0% during the 4th quarter. UMB Bank n.a. now owns 1,451 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 189 shares during the last quarter. Finally, Quarry LP bought a new stake in Terex in the 4th quarter valued at $88,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TEX. Morgan Stanley restated an “overweight” rating and issued a $84.00 price target on shares of Terex in a research report on Wednesday, May 6th. Barclays upped their price objective on shares of Terex from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. DA Davidson assumed coverage on Terex in a research report on Wednesday, June 24th. They set a “strong-buy” rating and a $81.00 target price on the stock. Truist Financial boosted their price target on Terex from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Citigroup upped their price target on Terex from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Two 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’s stock. According to data from MarketBeat, Terex has a consensus rating of “Moderate Buy” and an average target price of $79.45.

Insider Activity at Terex

In other news, insider Joshua Gross sold 5,874 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $61.53, for a total value of $361,427.22. Following the sale, the insider owned 48,706 shares of the company’s stock, valued at approximately $2,996,880.18. This represents a 10.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Terex Trading Down 3.6%

Shares of TEX opened at $63.05 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The stock has a market cap of $7.20 billion, a PE ratio of 30.17, a PEG ratio of 1.02 and a beta of 1.49. Terex Corporation has a 1 year low of $41.70 and a 1 year high of $74.69. The stock has a 50 day simple moving average of $64.09 and a 200-day simple moving average of $62.57.

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

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, August 11th. Terex’s payout ratio is currently 32.54%.

Terex Company Profile

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.