Newport Trust Co lessened its position in Moody’s Co. (NYSE:MCO) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,226 shares of the business services provider’s stock after selling 4,962 shares during the period. Moody’s comprises about 0.2% of Newport Trust Co’s portfolio, making the stock its 29th largest holding. Newport Trust Co owned 0.22% of Moody’s worth $83,617,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in MCO. Capital Insight Partners LLC grew its position in shares of Moody’s by 1.1% in the 2nd quarter. Capital Insight Partners LLC now owns 9,090 shares of the business services provider’s stock valued at $1,775,000 after acquiring an additional 95 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Moody’s by 0.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 11,462 shares of the business services provider’s stock valued at $2,239,000 after acquiring an additional 81 shares during the period. Curbstone Financial Management Corp bought a new position in shares of Moody’s in the 2nd quarter valued at about $410,000. Pennsylvania Trust Co grew its position in shares of Moody’s by 3.1% in the 2nd quarter. Pennsylvania Trust Co now owns 37,578 shares of the business services provider’s stock valued at $7,339,000 after acquiring an additional 1,145 shares during the period. Finally, Argus Investors Counsel Inc. grew its position in shares of Moody’s by 110.2% in the 2nd quarter. Argus Investors Counsel Inc. now owns 4,292 shares of the business services provider’s stock valued at $838,000 after acquiring an additional 2,250 shares during the period. 90.27% of the stock is owned by institutional investors.
Shares of MCO stock traded down $0.14 during midday trading on Friday, hitting $218.13. 464,643 shares of the company were exchanged, compared to its average volume of 866,542. The firm has a market capitalization of $40.23 billion, a P/E ratio of 29.52, a PEG ratio of 2.61 and a beta of 1.24. The company has a debt-to-equity ratio of 7.50, a quick ratio of 1.71 and a current ratio of 1.42. The firm’s 50 day moving average price is $212.98 and its two-hundred day moving average price is $203.72. Moody’s Co. has a 52 week low of $129.26 and a 52 week high of $223.82.
Moody’s (NYSE:MCO) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.99 by $0.16. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Moody’s had a net margin of 28.20% and a return on equity of 270.17%. Moody’s’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.69 EPS. Analysts expect that Moody’s Co. will post 8.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Wednesday, November 20th. Moody’s’s payout ratio is 27.06%.
A number of research analysts have recently commented on MCO shares. JPMorgan Chase & Co. lifted their price objective on shares of Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. William Blair reissued an “outperform” rating on shares of Moody’s in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Moody’s to $230.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Barclays reissued a “buy” rating on shares of Moody’s in a research report on Sunday, August 4th. Finally, Stifel Nicolaus lifted their target price on shares of Moody’s from $214.00 to $228.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $208.91.
In other Moody’s news, insider Mark Almeida sold 27,236 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.06, for a total value of $5,639,486.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Fauber sold 3,721 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $212.71, for a total transaction of $791,493.91. Following the completion of the sale, the insider now directly owns 48,382 shares of the company’s stock, valued at approximately $10,291,335.22. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
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.
Want to see what other hedge funds are holding MCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moody’s Co. (NYSE:MCO).
Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.