Meester Simon, the President and CEO of Terex Corp (NYSE:TEX), recently sold 9,877 shares of common stock. The transaction, dated December 11, 2024, took place at a price of $51.14 per share, amounting to a total sale value of $505,109. The stock, currently trading at $49.73, is near its 52-week low of $48.11, with InvestingPro analysis suggesting the shares are undervalued. Following this sale, Simon retains ownership of 127,858 shares, which includes shares received as a dividend. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. The company maintains strong fundamentals with a P/E ratio of 7.18x and an overall financial health score rated as "GREAT" by InvestingPro, which offers comprehensive analysis and additional insights in its detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, Wabtec Corporation is expected to continue its growth trajectory, according to KeyBanc Capital Markets. This growth is anticipated due to Wabtec's strong competitive position, diverse international exposure, and significant order backlog. The company's potential to achieve low-teen earnings per share in the coming years is also seen as a distinguishing factor when compared to other machinery original equipment manufacturers.
In other recent developments, Terex Corporation reported a decrease in net sales by 6% year-over-year for the third quarter of 2024, amounting to $1.2 billion, and earnings per share (EPS) of $1.46. Despite this, Terex completed the acquisition of ESG, a move projected to contribute an additional $40 million in EBITDA in the fourth quarter. Analysts anticipate that the operational synergies from this acquisition will reach at least $25 million by the end of 2026.
Additionally, Terex Corporation announced the appointment of Jennifer Kong-Picarello as its new Senior Vice President and Chief Financial Officer. Kong-Picarello brings over two decades of financial experience from Schneider Electric (EPA:SCHN), Honeywell (NASDAQ:HON), and Tyco. These are the recent developments that highlight the companies' financial performance and strategic moves.
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