Moody’s Co. (MCO) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its holdings in Moody’s Co. (NYSE:MCO) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,942 shares of the business services provider’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Moody’s were worth $2,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Baskin Financial Services Inc. increased its stake in shares of Moody’s by 1.0% in the first quarter. Baskin Financial Services Inc. now owns 93,703 shares of the business services provider’s stock worth $16,969,000 after purchasing an additional 908 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Moody’s by 22.1% in the first quarter. Raymond James Trust N.A. now owns 2,353 shares of the business services provider’s stock worth $426,000 after purchasing an additional 426 shares in the last quarter. Retirement Systems of Alabama grew its stake in Moody’s by 0.5% during the first quarter. Retirement Systems of Alabama now owns 77,375 shares of the business services provider’s stock valued at $14,012,000 after acquiring an additional 383 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Moody’s by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the business services provider’s stock valued at $1,594,000 after acquiring an additional 100 shares in the last quarter. Finally, Scout Investments Inc. purchased a new position in Moody’s during the first quarter valued at $33,058,000. Institutional investors and hedge funds own 93.97% of the company’s stock.

Shares of Moody’s stock traded up $0.11 during trading on Friday, hitting $188.99. The stock had a trading volume of 921,061 shares, compared to its average volume of 766,706. The firm has a market capitalization of $35.81 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 2.28 and a beta of 1.30. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 17.70. Moody’s Co. has a 12 month low of $129.26 and a 12 month high of $197.73.

Moody’s (NYSE:MCO) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.19. Moody’s had a net margin of 29.38% and a return on equity of 281.55%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $2.02 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Moody’s Co. will post 7.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. Moody’s’s payout ratio is 27.06%.

In other Moody’s news, SVP Melanie Hughes sold 3,039 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $197.52, for a total transaction of $600,263.28. Following the transaction, the senior vice president now owns 3,912 shares of the company’s stock, valued at approximately $772,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raymond W. Mcdaniel sold 44,146 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $183.95, for a total transaction of $8,120,656.70. Following the transaction, the insider now directly owns 229,749 shares in the company, valued at approximately $42,262,328.55. The disclosure for this sale can be found here. Insiders have sold a total of 168,345 shares of company stock valued at $31,222,531 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald raised their target price on shares of Moody’s from $168.00 to $192.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Wells Fargo & Co raised their target price on shares of Moody’s from $170.00 to $195.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. BMO Capital Markets lifted their price objective on shares of Moody’s from $189.00 to $194.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. UBS Group lifted their price objective on shares of Moody’s from $170.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Finally, Piper Jaffray Companies lifted their price objective on shares of Moody’s from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $183.00.

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About Moody’s

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.

Further Reading: Diluted Earnings Per Share

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

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