PNC Financial Services Group Inc. Sells 610 Shares of Terex Co. (NYSE:TEX)

PNC Financial Services Group Inc. reduced its position in Terex Co. (NYSE:TEX) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,645 shares of the industrial products company’s stock after selling 610 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Terex were worth $324,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Curated Wealth Partners LLC lifted its position in shares of Terex by 48.1% in the 4th quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $10,166,000 after purchasing an additional 57,500 shares during the period. International Assets Investment Management LLC lifted its holdings in Terex by 5,549.8% during the fourth quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock worth $7,366,000 after buying an additional 125,924 shares during the period. Assenagon Asset Management S.A. boosted its position in Terex by 103.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 110,391 shares of the industrial products company’s stock valued at $6,343,000 after acquiring an additional 56,169 shares in the last quarter. Connectus Wealth LLC purchased a new position in shares of Terex in the 4th quarter valued at $1,872,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Terex in the 4th quarter worth $1,489,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Terex news, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kieran Hegarty sold 17,190 shares of Terex stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the transaction, the insider now owns 200,029 shares in the company, valued at approximately $11,653,689.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott Posner sold 12,500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the transaction, the vice president now owns 58,224 shares in the company, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. Insiders have sold a total of 32,929 shares of company stock valued at $1,958,307 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TEX. JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research report on Monday, March 18th. Citigroup started coverage on shares of Terex in a research note on Wednesday. They set a “neutral” rating and a $60.00 price objective for the company. Truist Financial initiated coverage on shares of Terex in a research note on Thursday, March 14th. They issued a “buy” rating and a $73.00 target price for the company. Raymond James started coverage on Terex in a research report on Friday. They set a “market perform” rating on the stock. Finally, UBS Group raised their price objective on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.08.

Terex Trading Up 3.1 %

Shares of NYSE:TEX opened at $54.84 on Friday. The business has a 50-day moving average price of $58.05 and a 200-day moving average price of $58.83. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 7.26 and a beta of 1.61. Terex Co. has a 52-week low of $43.70 and a 52-week high of $65.89. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%. Equities analysts predict that Terex Co. will post 7.09 EPS for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.17 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. Terex’s payout ratio is 9.01%.

Terex 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.