Canada Pension Plan Investment Board Decreases Position in New Oriental Education & Tech Grp (EDU)

Canada Pension Plan Investment Board cut its stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 25.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 789,905 shares of the company’s stock after selling 272,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.55% of New Oriental Education & Tech Grp worth $58,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in EDU. Cornerstone Wealth Management LLC purchased a new stake in New Oriental Education & Tech Grp during the 2nd quarter worth about $400,000. Janney Montgomery Scott LLC purchased a new stake in New Oriental Education & Tech Grp during the 2nd quarter worth about $730,000. Atlas Capital Advisors LLC purchased a new stake in New Oriental Education & Tech Grp during the 2nd quarter worth about $187,000. Dupont Capital Management Corp lifted its holdings in New Oriental Education & Tech Grp by 182.5% during the 2nd quarter. Dupont Capital Management Corp now owns 6,488 shares of the company’s stock worth $614,000 after buying an additional 4,191 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in New Oriental Education & Tech Grp by 30.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 193,847 shares of the company’s stock worth $18,350,000 after buying an additional 45,468 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors.

New Oriental Education & Tech Grp stock opened at $52.94 on Friday. New Oriental Education & Tech Grp has a fifty-two week low of $51.21 and a fifty-two week high of $108.40. The stock has a market capitalization of $7.55 billion, a PE ratio of 27.29, a PEG ratio of 0.83 and a beta of 1.38.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its earnings results on Tuesday, October 23rd. The company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.02. New Oriental Education & Tech Grp had a return on equity of 15.47% and a net margin of 9.86%. The business had revenue of $859.80 million during the quarter, compared to the consensus estimate of $839.68 million. During the same period in the previous year, the business earned $1.02 EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, analysts anticipate that New Oriental Education & Tech Grp will post 1.94 earnings per share for the current fiscal year.

New Oriental Education & Tech Grp announced that its board has authorized a stock buyback plan on Tuesday, October 23rd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Several analysts have recently weighed in on the company. CLSA raised New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a report on Monday, October 15th. ValuEngine raised New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Deutsche Bank downgraded New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating and reduced their target price for the company from $105.00 to $55.00 in a report on Thursday, November 1st. Benchmark reduced their target price on New Oriental Education & Tech Grp from $105.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. reduced their target price on New Oriental Education & Tech Grp from $113.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $88.00.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by WKRB News and is owned by of WKRB News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.wkrb13.com/2018/11/25/canada-pension-plan-investment-board-decreases-position-in-new-oriental-education-tech-grp-edu.html.

About New Oriental Education & Tech Grp

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

Featured Story: How to calculate the annual rate of depreciation

Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

Receive News & Ratings for New Oriental Education & Tech Grp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Tech Grp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply