Geode Capital Management LLC Raises Stake in Strategic Education, Inc. (NASDAQ:STRA)

Geode Capital Management LLC boosted its stake in Strategic Education, Inc. (NASDAQ:STRA) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,274 shares of the health services provider’s stock after purchasing an additional 28,082 shares during the period. Geode Capital Management LLC owned approximately 2.28% of Strategic Education worth $51,956,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STRA. International Assets Investment Management LLC increased its holdings in Strategic Education by 10,374.4% during the 3rd quarter. International Assets Investment Management LLC now owns 199,538 shares of the health services provider’s stock worth $18,467,000 after purchasing an additional 197,633 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Strategic Education in the second quarter valued at $12,231,000. Renaissance Technologies LLC raised its stake in shares of Strategic Education by 64.9% in the 2nd quarter. Renaissance Technologies LLC now owns 251,778 shares of the health services provider’s stock valued at $27,862,000 after purchasing an additional 99,100 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Strategic Education during the third quarter worth about $5,635,000. Finally, State Street Corp lifted its position in shares of Strategic Education by 6.1% during the third quarter. State Street Corp now owns 890,133 shares of the health services provider’s stock worth $82,382,000 after purchasing an additional 50,980 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Strategic Education Price Performance

Shares of NASDAQ STRA opened at $92.70 on Monday. Strategic Education, Inc. has a 1-year low of $85.11 and a 1-year high of $123.62. The firm has a market capitalization of $2.28 billion, a PE ratio of 17.66, a P/E/G ratio of 1.38 and a beta of 0.59. The business’s fifty day moving average price is $94.44 and its two-hundred day moving average price is $99.14.

Strategic Education (NASDAQ:STRA) last issued its quarterly earnings data on Thursday, November 7th. The health services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.35. Strategic Education had a net margin of 10.44% and a return on equity of 7.61%. The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $301.62 million. During the same period last year, the firm posted $0.97 EPS. Strategic Education’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts expect that Strategic Education, Inc. will post 4.79 earnings per share for the current fiscal year.

Strategic Education Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.59%. The ex-dividend date was Monday, December 2nd. Strategic Education’s dividend payout ratio is currently 45.71%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STRA. Barrington Research restated an “outperform” rating and set a $135.00 price objective on shares of Strategic Education in a research note on Thursday, November 7th. StockNews.com downgraded shares of Strategic Education from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Truist Financial dropped their target price on shares of Strategic Education from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Strategic Education Profile

Strategic Education, Inc, through its subsidiaries, provides education services through campus-based and online post-secondary education, and programs to develop job-ready skills. The company operates through U.S. Higher Education, Australia/New Zealand, and Education Technology Services segments. It operates Strayer University that offers undergraduate and graduate degree programs in business, criminal justice, education, health services, information technology, and public administration at physical campuses located in the eastern United States, as well as through online; non-degree web and mobile application development courses through Hackbright Academy and Devmountain; and MBA online through its Jack Welch Management Institute.