Norway Savings Bank purchased a new stake in Moody’s Co. (NYSE:MCO) during the third quarter, according to its most recent filing with the SEC. The fund purchased 150 shares of the business services provider’s stock, valued at approximately $43,000.
A number of other institutional investors have also recently made changes to their positions in the stock. CX Institutional raised its holdings in shares of Moody’s by 144.0% during the 2nd quarter. CX Institutional now owns 122 shares of the business services provider’s stock worth $34,000 after acquiring an additional 72 shares in the last quarter. Fred Alger Management LLC bought a new position in Moody’s during the first quarter valued at $26,000. Hexavest Inc. grew its stake in shares of Moody’s by 245.9% in the 3rd quarter. Hexavest Inc. now owns 128 shares of the business services provider’s stock worth $37,000 after buying an additional 91 shares in the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Moody’s by 205.3% in the 2nd quarter. Carroll Financial Associates Inc. now owns 232 shares of the business services provider’s stock worth $63,000 after buying an additional 156 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Moody’s by 64.0% in the 1st quarter. Meeder Asset Management Inc. now owns 282 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 110 shares during the last quarter. 89.73% of the stock is owned by institutional investors.
MCO has been the subject of several analyst reports. Morgan Stanley raised their price objective on Moody’s from $275.00 to $292.00 and gave the company an “equal weight” rating in a research note on Monday, October 12th. Zacks Investment Research upgraded shares of Moody’s from a “hold” rating to a “buy” rating and set a $293.00 target price for the company in a report on Wednesday, September 9th. Stifel Nicolaus increased their price objective on shares of Moody’s from $293.00 to $296.00 and gave the stock a “hold” rating in a research report on Friday, October 2nd. Goldman Sachs Group boosted their target price on Moody’s from $258.00 to $295.00 in a research report on Wednesday, July 8th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $330.00 price target on shares of Moody’s in a report on Tuesday, July 28th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $294.00.
Shares of NYSE:MCO opened at $289.06 on Friday. The firm has a 50 day moving average of $287.72 and a 200 day moving average of $270.34. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 5.14. The company has a market capitalization of $54.26 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12. Moody’s Co. has a 52 week low of $164.19 and a 52 week high of $305.95.
Moody’s (NYSE:MCO) last issued its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.55. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.23 billion. Moody’s had a return on equity of 207.04% and a net margin of 33.38%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 earnings per share. On average, sell-side analysts expect that Moody’s Co. will post 9.48 EPS for the current year.
In other Moody’s news, EVP John J. Goggins sold 11,700 shares of Moody’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $274.14, for a total value of $3,207,438.00. Corporate insiders own 0.79% of the company’s stock.
Moody’s Company Profile
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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