Canada Pension Plan Investment Board raised its position in shares of Moody’s Co. (NYSE:MCO) by 1,151.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,960 shares of the business services provider’s stock after acquiring an additional 209,750 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Moody’s worth $38,881,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. NuWave Investment Management LLC boosted its position in Moody’s by 327.3% during the first quarter. NuWave Investment Management LLC now owns 641 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 491 shares during the last quarter. Synovus Financial Corp acquired a new position in shares of Moody’s during the first quarter valued at about $129,000. United Asset Strategies Inc. acquired a new position in shares of Moody’s during the second quarter valued at about $201,000. FineMark National Bank & Trust acquired a new position in shares of Moody’s during the second quarter valued at about $205,000. Finally, Gilbert & Cook Inc. acquired a new position in shares of Moody’s during the second quarter valued at about $206,000. 88.26% of the stock is currently owned by institutional investors and hedge funds.
MCO opened at $171.50 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 10.72. Moody’s Co. has a fifty-two week low of $129.03 and a fifty-two week high of $187.98. The stock has a market capitalization of $32.81 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13.
Moody’s (NYSE:MCO) last posted its earnings results on Friday, July 27th. The business services provider reported $2.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.16. Moody’s had a net margin of 24.10% and a return on equity of 907.23%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. equities analysts forecast that Moody’s Co. will post 7.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Monday, August 20th will be issued a $0.44 dividend. The ex-dividend date is Friday, August 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.03%. Moody’s’s dividend payout ratio is presently 29.00%.
In other Moody’s news, CFO Linda Huber bought 915 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were bought at an average price of $172.31 per share, for a total transaction of $157,663.65. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John J. Goggins sold 26,254 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $172.55, for a total transaction of $4,530,127.70. Following the completion of the sale, the executive vice president now owns 86,173 shares in the company, valued at approximately $14,869,151.15. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Nomura reiterated a “buy” rating and set a $193.00 price objective on shares of Moody’s in a report on Monday, July 30th. BMO Capital Markets dropped their price objective on shares of Moody’s from $173.00 to $169.00 and set a “market perform” rating on the stock in a report on Monday, April 30th. Zacks Investment Research lowered shares of Moody’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Stifel Nicolaus upped their price objective on shares of Moody’s from $170.00 to $188.00 and gave the company a “hold” rating in a report on Monday, July 30th. Finally, Morgan Stanley upped their price objective on shares of Moody’s from $176.00 to $179.00 and gave the company a “$184.49” rating in a report on Wednesday, July 18th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Moody’s currently has an average rating of “Hold” and an average price target of $175.67.
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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