Caisse de depot et placement du Quebec Buys Shares of 8,600 Morningstar, Inc. $MORN

Caisse de depot et placement du Quebec purchased a new position in Morningstar, Inc. (NASDAQ:MORN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,600 shares of the business services provider’s stock, valued at approximately $1,342,000.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE grew its position in Morningstar by 11.7% in the 1st quarter. Bank of America Corp DE now owns 183,575 shares of the business services provider’s stock valued at $31,033,000 after buying an additional 19,264 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Morningstar during the 2nd quarter worth about $846,000. WINTON GROUP Ltd acquired a new stake in shares of Morningstar in the 4th quarter worth approximately $6,534,000. Thrivent Financial for Lutherans lifted its stake in shares of Morningstar by 176.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,185 shares of the business services provider’s stock worth $7,629,000 after acquiring an additional 22,459 shares during the period. Finally, Fluent Financial LLC boosted its holdings in shares of Morningstar by 150.0% in the second quarter. Fluent Financial LLC now owns 14,362 shares of the business services provider’s stock valued at $2,241,000 after acquiring an additional 8,618 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings raised Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Rothschild & Co Redburn set a $210.00 price target on Morningstar in a research note on Thursday, June 18th. UBS Group lowered their price target on Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. BMO Capital Markets reissued an “outperform” rating and issued a $212.00 price objective on shares of Morningstar in a research note on Friday, June 26th. Finally, Wall Street Zen cut Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.33.

Morningstar Stock Performance

MORN opened at $217.65 on Monday. The firm has a market cap of $8.16 billion, a PE ratio of 20.61 and a beta of 0.99. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.66. The business has a fifty day simple moving average of $184.22 and a 200-day simple moving average of $178.08. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $263.67.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.27. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.The business had revenue of $663.20 million for the quarter, compared to analysts’ expectations of $649.72 million.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 7,906 shares of Morningstar stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $210.26, for a total value of $1,662,315.56. Following the transaction, the chairman owned 7,960,570 shares of the company’s stock, valued at approximately $1,673,789,448.20. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 86,500 shares of company stock valued at $17,824,451. Company insiders own 38.80% of the company’s stock.

About Morningstar

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.