Envestnet Asset Management Inc. Cuts Stock Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Envestnet Asset Management Inc. lowered its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,426 shares of the company’s stock after selling 1,650 shares during the period. Envestnet Asset Management Inc.’s holdings in New Oriental Education & Technology Group were worth $2,210,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in New Oriental Education & Technology Group by 37.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock worth $173,997,000 after purchasing an additional 646,122 shares in the last quarter. WT Asset Management Ltd grew its holdings in shares of New Oriental Education & Technology Group by 21.4% in the second quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock valued at $134,533,000 after acquiring an additional 304,712 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of New Oriental Education & Technology Group by 141.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock valued at $117,892,000 after acquiring an additional 942,392 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at approximately $103,392,000. Finally, Point72 Hong Kong Ltd lifted its holdings in New Oriental Education & Technology Group by 81.7% during the fourth quarter. Point72 Hong Kong Ltd now owns 771,798 shares of the company’s stock worth $56,557,000 after acquiring an additional 346,956 shares during the period.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.67.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $80.60 on Friday. New Oriental Education & Technology Group Inc. has a 52 week low of $58.44 and a 52 week high of $98.20. The firm’s 50-day simple moving average is $66.20 and its two-hundred day simple moving average is $75.97. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 43.33 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current year.

New Oriental Education & Technology Group Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.