FDx Advisors Inc. Grows Holdings in Moody’s Co. (MCO)
FDx Advisors Inc. grew its position in shares of Moody’s Co. (NYSE:MCO) by 36.2% during the third quarter, HoldingsChannel reports. The firm owned 2,124 shares of the business services provider’s stock after acquiring an additional 565 shares during the quarter. FDx Advisors Inc.’s holdings in Moody’s were worth $355,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Moody’s by 1.0% during the second quarter. BlackRock Inc. now owns 11,042,889 shares of the business services provider’s stock worth $1,883,479,000 after purchasing an additional 114,722 shares in the last quarter. FMR LLC increased its position in shares of Moody’s by 5.8% during the third quarter. FMR LLC now owns 2,565,124 shares of the business services provider’s stock worth $428,888,000 after acquiring an additional 140,227 shares during the period. Bank of New York Mellon Corp increased its position in shares of Moody’s by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 1,423,853 shares of the business services provider’s stock worth $238,071,000 after acquiring an additional 9,246 shares during the period. Janus Henderson Group PLC increased its position in shares of Moody’s by 3.0% during the third quarter. Janus Henderson Group PLC now owns 1,412,239 shares of the business services provider’s stock worth $236,127,000 after acquiring an additional 40,743 shares during the period. Finally, AGF Investments Inc. increased its position in shares of Moody’s by 6.8% during the second quarter. AGF Investments Inc. now owns 1,055,579 shares of the business services provider’s stock worth $180,040,000 after acquiring an additional 67,147 shares during the period. Institutional investors own 87.76% of the company’s stock.
A number of analysts have recently weighed in on MCO shares. Goldman Sachs Group started coverage on Moody’s in a research report on Wednesday, November 14th. They set a “neutral” rating and a $165.00 price objective on the stock. UBS Group cut their price objective on Moody’s from $192.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 21st. Cantor Fitzgerald cut their price objective on Moody’s to $145.00 and set a “neutral” rating on the stock in a research report on Monday, October 29th. William Blair reaffirmed a “buy” rating on shares of Moody’s in a research report on Sunday, August 12th. Finally, Morgan Stanley cut their price objective on Moody’s from $171.00 to $156.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Moody’s presently has a consensus rating of “Hold” and a consensus target price of $177.33.
Moody’s (NYSE:MCO) last posted its earnings results on Friday, October 26th. The business services provider reported $1.69 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.09). The business had revenue of $1.08 billion during 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 business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.52 EPS. Analysts predict that Moody’s Co. will post 7.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 21st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.17%. The ex-dividend date is Tuesday, November 20th. Moody’s’s dividend payout ratio (DPR) is presently 29.00%.
In related news, SVP Blair Worrall sold 5,561 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $147.43, for a total value of $819,858.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.
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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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