Moody’s Co. (MCO) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in Moody’s Co. (NYSE:MCO) by 22.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,542 shares of the business services provider’s stock after selling 60,165 shares during the period. Wedge Capital Management L L P NC’s holdings in Moody’s were worth $34,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCO. Neuburgh Advisers LLC raised its holdings in shares of Moody’s by 3.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 8,636 shares of the business services provider’s stock worth $1,473,000 after purchasing an additional 306 shares during the period. Pennsylvania Trust Co raised its holdings in shares of Moody’s by 15.6% in the 2nd quarter. Pennsylvania Trust Co now owns 2,312 shares of the business services provider’s stock worth $394,000 after purchasing an additional 312 shares during the period. World Asset Management Inc raised its holdings in shares of Moody’s by 2.8% in the 2nd quarter. World Asset Management Inc now owns 11,687 shares of the business services provider’s stock worth $1,993,000 after purchasing an additional 323 shares during the period. Moloney Securities Asset Management LLC raised its holdings in shares of Moody’s by 13.8% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 2,705 shares of the business services provider’s stock worth $461,000 after purchasing an additional 329 shares during the period. Finally, Creative Planning raised its holdings in shares of Moody’s by 3.9% in the 3rd quarter. Creative Planning now owns 9,114 shares of the business services provider’s stock worth $1,524,000 after purchasing an additional 342 shares during the period. Hedge funds and other institutional investors own 88.01% of the company’s stock.

A number of equities research analysts have issued reports on the stock. ValuEngine cut shares of Moody’s from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Nomura reissued a “buy” rating and set a $193.00 target price on shares of Moody’s in a report on Monday, July 30th. Zacks Investment Research cut shares of Moody’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Stifel Nicolaus boosted their target price 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 boosted their target price 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. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $178.45.

Shares of MCO stock opened at $149.46 on Friday. The firm has a market cap of $28.64 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.21. The company has a current ratio of 1.38, a quick ratio of 1.54 and a debt-to-equity ratio of 7.40. Moody’s Co. has a 1 year low of $139.11 and a 1 year high of $187.98.

Moody’s (NYSE:MCO) last released its quarterly earnings results on Friday, October 26th. The business services provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 23.85% and a return on equity of 412.48%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 earnings per share. As a group, sell-side analysts expect that Moody’s Co. will post 7.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be given 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 1.18%. Moody’s’s dividend payout ratio (DPR) is currently 29.00%.

In other news, CFO Linda Huber purchased 915 shares of Moody’s stock in a transaction dated Monday, August 6th. The stock was purchased at an average cost of $172.31 per share, for a total transaction of $157,663.65. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

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.

Featured Article: What is a put option?

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).

Institutional Ownership by Quarter for Moody`s (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.

Leave a Reply