Herndon Capital Management LLC Has $63,408,000 Position in Moody’s Corp. (MCO)
Herndon Capital Management LLC cut its stake in shares of Moody’s Corp. (NYSE:MCO) by 33.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,650 shares of the company’s stock after selling 342,894 shares during the period. Moody’s Corp. makes up approximately 2.4% of Herndon Capital Management LLC’s holdings, making the stock its 18th largest position. Herndon Capital Management LLC owned 0.35% of Moody’s Corp. worth $63,408,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in MCO. Sumitomo Mitsui Asset Management Company LTD raised its stake in Moody’s Corp. by 0.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,718 shares of the company’s stock valued at $1,285,000 after buying an additional 85 shares in the last quarter. Henderson Group PLC raised its stake in Moody’s Corp. by 7.9% in the second quarter. Henderson Group PLC now owns 23,950 shares of the company’s stock valued at $2,244,000 after buying an additional 1,761 shares in the last quarter. LMR Partners LLP bought a new stake in Moody’s Corp. during the second quarter valued at $1,657,000. ING Groep NV raised its stake in Moody’s Corp. by 54.0% in the second quarter. ING Groep NV now owns 5,995 shares of the company’s stock valued at $562,000 after buying an additional 2,102 shares in the last quarter. Finally, FNY Managed Accounts LLC bought a new stake in Moody’s Corp. during the second quarter valued at $190,000. Institutional investors own 86.89% of the company’s stock.
Moody’s Corp. (NYSE:MCO) traded up 1.03% on Tuesday, hitting $107.80. The stock had a trading volume of 1,248,142 shares. The company’s 50 day moving average is $108.51 and its 200-day moving average is $101.46. Moody’s Corp. has a 1-year low of $77.76 and a 1-year high of $110.83. The firm has a market capitalization of $20.72 billion, a price-to-earnings ratio of 24.07 and a beta of 1.35.
Moody’s Corp. (NYSE:MCO) last released its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. Moody’s Corp. had a net margin of 25.81% and a negative return on equity of 273.01%. The company earned $928.90 million during the quarter, compared to the consensus estimate of $909.08 million. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Moody’s Corp. will post $4.63 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Moody’s Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. BMO Capital Markets restated a “market perform” rating and set a $112.00 price target (up from $104.00) on shares of Moody’s Corp. in a research report on Friday, September 30th. Cantor Fitzgerald set a $105.00 price target on Moody’s Corp. and gave the stock a “hold” rating in a research report on Thursday, September 29th. Barclays PLC increased their price target on Moody’s Corp. from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 21st. Finally, Argus increased their price target on Moody’s Corp. from $110.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $108.77.
In other Moody’s Corp. news, VP Linda Huber sold 182,595 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $110.13, for a total transaction of $20,109,187.35. Following the completion of the transaction, the vice president now directly owns 63,637 shares in the company, valued at $7,008,342.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Fauber sold 17,796 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $104.78, for a total transaction of $1,864,664.88. Following the transaction, the insider now owns 49,527 shares of the company’s stock, valued at $5,189,439.06. The disclosure for this sale can be found here. 1.48% of the stock is currently owned by insiders.
Moody’s Corp. Company Profile
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services; quantitative credit risk measures, financial services training and certification services, and outsourced research and analytical services to financial institution customers.
Receive News & Stock Ratings for Moody's Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's Corp. and related stocks with our FREE daily email newsletter.