Virginia Retirement Systems ET AL trimmed its holdings in Moody’s Co. (NYSE:MCO) by 50.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,600 shares of the business services provider’s stock after selling 43,500 shares during the period. Virginia Retirement Systems ET AL’s holdings in Moody’s were worth $7,123,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in Moody’s by 107.1% in the first quarter. LPL Financial LLC now owns 6,153 shares of the business services provider’s stock worth $992,000 after acquiring an additional 3,182 shares in the last quarter. Clinton Group Inc. purchased a new stake in Moody’s during the second quarter valued at about $238,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Moody’s by 19.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,122 shares of the business services provider’s stock valued at $532,000 after buying an additional 500 shares during the period. State of Alaska Department of Revenue boosted its position in Moody’s by 15.8% during the second quarter. State of Alaska Department of Revenue now owns 26,720 shares of the business services provider’s stock valued at $4,555,000 after buying an additional 3,650 shares during the period. Finally, Pennsylvania Trust Co boosted its position in Moody’s by 15.6% during the second quarter. Pennsylvania Trust Co now owns 2,312 shares of the business services provider’s stock valued at $394,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 88.13% of the company’s stock.
Moody’s stock opened at $153.50 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 7.40. The stock has a market cap of $29.40 billion, a PE ratio of 25.29, a PEG ratio of 1.86 and a beta of 1.21. Moody’s Co. has a 1-year low of $139.11 and a 1-year high of $187.98.
Moody’s (NYSE:MCO) last posted its earnings results on Friday, October 26th. The business services provider reported $1.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.09). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Moody’s had a return on equity of 412.48% and a net margin of 23.85%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 earnings per share. Sell-side analysts predict that Moody’s Co. will post 7.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.15%. Moody’s’s dividend payout ratio is currently 29.00%.
MCO has been the subject of several analyst reports. Morgan Stanley upped their price target on shares of Moody’s from $176.00 to $179.00 and gave the company a “$184.49” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Moody’s from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. Nomura restated a “buy” rating and set a $193.00 price target on shares of Moody’s in a research report on Monday, July 30th. BMO Capital Markets upped their price target on shares of Moody’s from $179.00 to $183.00 and gave the company a “market perform” rating in a research report on Monday, July 30th. Finally, Stifel Nicolaus upped their price target on shares of Moody’s from $170.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, July 30th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $178.45.
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Moody’s Company Profile
Moody's Corporation provides credit ratings; and credit, capital markets, and economic related 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 comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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