Banque Cantonale Vaudoise Decreases Stock Holdings in Moody’s Co. (NYSE:MCO)

by · The Markets Daily

Banque Cantonale Vaudoise lowered its stake in Moody’s Co. (NYSE:MCO – Free Report) by 36.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,126 shares of the business services provider’s stock after selling 2,915 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Moody’s were worth $2,432,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of Moody’s in the 1st quarter worth $27,000. Planning Capital Management Corp grew its stake in Moody’s by 566.7% in the third quarter. Planning Capital Management Corp now owns 60 shares of the business services provider’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Moody’s by 114.3% during the 2nd quarter. Versant Capital Management Inc now owns 75 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 40 shares in the last quarter. Y.D. More Investments Ltd bought a new position in shares of Moody’s in the 2nd quarter worth about $35,000. Finally, Catalyst Capital Advisors LLC bought a new position in Moody’s in the third quarter worth about $36,000. 92.11% of the stock is owned by institutional investors and hedge funds.

Moody’s Stock Performance

Shares of MCO opened at $468.72 on Wednesday. The firm’s 50 day moving average is $473.45 and its 200-day moving average is $449.84. The stock has a market capitalization of $84.93 billion, a P/E ratio of 42.81, a P/E/G ratio of 3.08 and a beta of 1.29. Moody’s Co. has a 12-month low of $355.77 and a 12-month high of $495.10. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.67 and a quick ratio of 1.67.

Moody’s (NYSE:MCO – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.32. Moody’s had a return on equity of 57.97% and a net margin of 29.05%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned $2.43 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Moody’s Co. will post 12.07 EPS for the current fiscal year.

Moody’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.85 per share. The ex-dividend date is Friday, November 22nd. This represents a $3.40 annualized dividend and a yield of 0.73%. Moody’s’s dividend payout ratio (DPR) is presently 31.05%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MCO. Morgan Stanley increased their target price on Moody’s from $451.00 to $462.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Raymond James cut shares of Moody’s from a “market perform” rating to an “underperform” rating in a report on Monday, September 23rd. Evercore ISI initiated coverage on shares of Moody’s in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $521.00 target price for the company. The Goldman Sachs Group raised their price target on shares of Moody’s from $460.00 to $514.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Oppenheimer boosted their price objective on Moody’s from $536.00 to $543.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Moody’s has an average rating of “Hold” and a consensus price target of $500.00.

Check Out Our Latest Stock Analysis on MCO

Insider Transactions at Moody’s

In other news, SVP Caroline Sullivan sold 1,681 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $462.40, for a total value of $777,294.40. Following the completion of the transaction, the senior vice president now owns 1,415 shares in the company, valued at approximately $654,296. This represents a 54.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Fauber sold 281 shares of Moody’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $478.99, for a total transaction of $134,596.19. Following the sale, the chief executive officer now owns 61,354 shares in the company, valued at approximately $29,387,952.46. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by corporate insiders.

Moody’s Company Profile

(Free Report)

Moody’s Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody’s Analytics and Moody’s Investors Services. The Moody’s Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.

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