Factory Mutual Insurance Co. Invests $2.51 Million in New Oriental Education & Technology Group, Inc. $EDU

Factory Mutual Insurance Co. acquired a new stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,197 shares of the company’s stock, valued at approximately $2,505,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EDU. Bessemer Group Inc. purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $37,000. Hantz Financial Services Inc. raised its holdings in shares of New Oriental Education & Technology Group by 738.0% in the second quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock worth $49,000 after buying an additional 797 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the second quarter worth $111,000. Cerity Partners LLC purchased a new stake in shares of New Oriental Education & Technology Group during the second quarter valued at $221,000. Finally, KBC Group NV grew its holdings in shares of New Oriental Education & Technology Group by 11.3% during the second quarter. KBC Group NV now owns 4,474 shares of the company’s stock valued at $241,000 after buying an additional 454 shares during the last quarter.

New Oriental Education & Technology Group Stock Performance

EDU opened at $59.81 on Friday. The company has a fifty day moving average of $57.64 and a two-hundred day moving average of $54.15. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.02 and a beta of 0.27. New Oriental Education & Technology Group, Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Zacks Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. China Renaissance raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. HSBC upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.