Veritas Investment Management UK Ltd Sells 75 Shares of Moody’s Co. (NYSE:MCO)

Veritas Investment Management UK Ltd cut its stake in Moody’s Co. (NYSE:MCO) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,005 shares of the business services provider’s stock after selling 75 shares during the period. Moody’s accounts for about 0.1% of Veritas Investment Management UK Ltd’s investment portfolio, making the stock its 24th biggest position. Veritas Investment Management UK Ltd’s holdings in Moody’s were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its position in shares of Moody’s by 15.7% during the 1st quarter. FMR LLC now owns 4,583,309 shares of the business services provider’s stock worth $829,991,000 after buying an additional 620,741 shares during the period. Cobblestone Capital Advisors LLC NY grew its position in shares of Moody’s by 1.1% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 59,608 shares of the business services provider’s stock worth $10,794,000 after buying an additional 661 shares during the period. Pennsylvania Trust Co grew its position in shares of Moody’s by 3.1% during the 2nd quarter. Pennsylvania Trust Co now owns 37,578 shares of the business services provider’s stock worth $7,339,000 after buying an additional 1,145 shares during the period. Teacher Retirement System of Texas grew its position in shares of Moody’s by 115.1% during the 1st quarter. Teacher Retirement System of Texas now owns 5,078 shares of the business services provider’s stock worth $920,000 after buying an additional 2,717 shares during the period. Finally, Tesco Pension Investment Ltd grew its position in shares of Moody’s by 21.3% during the 1st quarter. Tesco Pension Investment Ltd now owns 236,679 shares of the business services provider’s stock worth $42,860,000 after buying an additional 41,526 shares during the period. 91.79% of the stock is owned by institutional investors.

MCO has been the subject of several analyst reports. BMO Capital Markets lifted their price target on shares of Moody’s from $189.00 to $194.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Stifel Nicolaus lifted their price target on shares of Moody’s from $214.00 to $228.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their price target on shares of Moody’s from $150.00 to $164.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, UBS Group boosted their price objective on shares of Moody’s from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $200.27.

In other news, insider Mark Almeida sold 27,236 shares of the company’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Raymond W. Mcdaniel sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.46, for a total transaction of $1,488,450.00. Following the completion of the transaction, the chief executive officer now owns 212,794 shares of the company’s stock, valued at approximately $42,231,097.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,379 shares of company stock valued at $19,615,656. Corporate insiders own 0.90% of the company’s stock.

NYSE MCO traded up $3.34 during trading on Monday, reaching $217.63. 16,754 shares of the stock traded hands, compared to its average volume of 756,445. The firm has a market cap of $40.54 billion, a price-to-earnings ratio of 29.43 and a beta of 1.26. The stock’s 50-day moving average price is $205.00 and its 200 day moving average price is $187.87. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 10.04. Moody’s Co. has a fifty-two week low of $129.26 and a fifty-two week high of $220.68.

Moody’s (NYSE:MCO) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.09. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Moody’s had a net margin of 27.66% and a return on equity of 266.42%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.04 earnings per share. Analysts anticipate that Moody’s Co. will post 8.02 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, August 19th. Moody’s’s dividend payout ratio is currently 27.06%.

Moody’s Company Profile

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.

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Institutional Ownership by Quarter for Moody`s (NYSE:MCO)

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