Terex Co. (TEX) Holdings Cut by Vanguard Group Inc.
Vanguard Group Inc. cut its holdings in Terex Co. (NYSE:TEX) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,774,992 shares of the industrial products company’s stock after selling 95,406 shares during the quarter. Vanguard Group Inc. owned 10.55% of Terex worth $310,301,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of TEX. Raymond James & Associates raised its position in shares of Terex by 108.5% during the second quarter. Raymond James & Associates now owns 26,964 shares of the industrial products company’s stock worth $1,138,000 after purchasing an additional 14,029 shares during the period. Commonwealth Bank of Australia acquired a new position in shares of Terex during the third quarter worth approximately $482,000. Man Group plc raised its position in shares of Terex by 104.9% during the third quarter. Man Group plc now owns 279,004 shares of the industrial products company’s stock worth $11,135,000 after purchasing an additional 142,857 shares during the period. Morgan Stanley raised its position in shares of Terex by 2.6% during the second quarter. Morgan Stanley now owns 3,199,629 shares of the industrial products company’s stock worth $134,992,000 after purchasing an additional 80,932 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Terex during the third quarter worth approximately $425,000. 98.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on TEX shares. Wells Fargo & Co lowered their target price on Terex from $45.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, November 5th. Barclays set a $43.00 target price on Terex and gave the stock a “hold” rating in a research report on Monday, November 5th. Bank of America lowered their target price on Terex from $40.00 to $28.00 and set an “underperform” rating on the stock in a research report on Friday, November 2nd. Deutsche Bank lowered their target price on Terex from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Monday, November 5th. Finally, Zacks Investment Research upgraded Terex from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Terex has a consensus rating of “Hold” and an average price target of $39.50.
Terex (NYSE:TEX) last announced its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.07). Terex had a return on equity of 18.86% and a net margin of 2.42%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company posted $0.50 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Terex Co. will post 2.65 EPS for the current year.
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Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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