Virginia Retirement Systems ET AL grew its position in Moody's Co. (NYSE:MCO) by 33.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 156,300 shares of the business services provider’s stock after buying an additional 38,900 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.08% of Moody's worth $21,759,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in MCO. Vanguard Group Inc. boosted its stake in Moody's by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 16,203,350 shares of the business services provider’s stock worth $1,971,623,000 after purchasing an additional 463,669 shares during the period. BlackRock Inc. raised its position in shares of Moody's by 1.7% in the second quarter. BlackRock Inc. now owns 10,350,596 shares of the business services provider’s stock valued at $1,259,461,000 after purchasing an additional 169,560 shares during the period. Fiera Capital Corp raised its position in shares of Moody's by 17.8% in the second quarter. Fiera Capital Corp now owns 5,793,968 shares of the business services provider’s stock valued at $705,010,000 after purchasing an additional 876,210 shares during the period. Principal Financial Group Inc. raised its position in shares of Moody's by 0.7% in the third quarter. Principal Financial Group Inc. now owns 5,128,216 shares of the business services provider’s stock valued at $713,898,000 after purchasing an additional 33,723 shares during the period. Finally, Harris Associates L P raised its position in shares of Moody's by 8.5% in the second quarter. Harris Associates L P now owns 3,670,649 shares of the business services provider’s stock valued at $446,645,000 after purchasing an additional 288,906 shares during the period. 87.49% of the stock is owned by institutional investors.
MCO has been the topic of several research reports. Zacks Investment Research lowered shares of Moody's from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. UBS boosted their price target on shares of Moody's from $138.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, August 18th. Credit Suisse Group reaffirmed a “neutral” rating and set a $137.00 price objective (up previously from $131.00) on shares of Moody's in a research note on Wednesday, August 30th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “market perform” rating and set a $136.00 price objective (up previously from $135.00) on shares of Moody's in a research note on Wednesday, September 6th. Finally, Barclays boosted their price objective on shares of Moody's from $135.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, September 15th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $151.89.
In other Moody's news, Director Darrell Duffie sold 500 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $138.41, for a total value of $69,205.00. Following the sale, the director now owns 21,804 shares of the company’s stock, valued at approximately $3,017,891.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ewald Kist sold 4,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $142.00, for a total value of $568,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.17% of the company’s stock.
Moody's Co. (NYSE:MCO) traded up $0.19 during mid-day trading on Thursday, reaching $152.27. 605,700 shares of the company’s stock were exchanged, compared to its average volume of 838,776. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of -32.57. Moody's Co. has a fifty-two week low of $93.51 and a fifty-two week high of $153.86. The stock has a market cap of $29,062.49, a PE ratio of 26.54, a PEG ratio of 2.70 and a beta of 1.36.
Moody's (NYSE:MCO) last released its quarterly earnings results on Friday, November 3rd. The business services provider reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.15. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $992.81 million. Moody's had a net margin of 13.73% and a negative return on equity of 187.20%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.34 EPS. sell-side analysts forecast that Moody's Co. will post 5.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, November 20th. Moody's’s dividend payout ratio (DPR) is 54.29%.
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.
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