PNC Financial Services Group Inc. Reduces Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

PNC Financial Services Group Inc. trimmed its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 7.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,406 shares of the company’s stock after selling 284 shares during the quarter. PNC Financial Services Group Inc.’s holdings in New Oriental Education & Technology Group were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Assetmark Inc. increased its position in shares of New Oriental Education & Technology Group by 1,642.9% during the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after acquiring an additional 575 shares during the last quarter. Dfpg Investments LLC grew its stake in New Oriental Education & Technology Group by 7.3% in the fourth quarter. Dfpg Investments LLC now owns 11,674 shares of the company’s stock worth $852,000 after purchasing an additional 793 shares in the last quarter. Ritholtz Wealth Management grew its stake in New Oriental Education & Technology Group by 12.8% in the fourth quarter. Ritholtz Wealth Management now owns 15,221 shares of the company’s stock worth $1,115,000 after purchasing an additional 1,729 shares in the last quarter. Lazard Asset Management LLC grew its stake in New Oriental Education & Technology Group by 2.5% in the third quarter. Lazard Asset Management LLC now owns 79,073 shares of the company’s stock worth $4,629,000 after purchasing an additional 1,896 shares in the last quarter. Finally, US Bancorp DE grew its stake in New Oriental Education & Technology Group by 23.0% in the fourth quarter. US Bancorp DE now owns 11,379 shares of the company’s stock worth $834,000 after purchasing an additional 2,126 shares in the last quarter.

New Oriental Education & Technology Group Stock Up 1.6 %

Shares of EDU stock opened at $79.00 on Tuesday. The business has a 50 day moving average of $79.67 and a two-hundred day moving average of $82.15. New Oriental Education & Technology Group Inc. has a 52 week low of $39.08 and a 52 week high of $98.20. The company has a market cap of $13.41 billion, a P/E ratio of 42.47 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, April 24th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.09 billion. New Oriental Education & Technology Group had a net margin of 7.72% and a return on equity of 8.11%. Analysts expect that New Oriental Education & Technology Group Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EDU shares. Citigroup lifted their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Morgan Stanley lifted their price target on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, HSBC assumed coverage on New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They issued a “buy” rating and a $110.00 price target for the company. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.75.

New Oriental Education & Technology Group 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.