Burgundy Asset Management Ltd. Buys 217,151 Shares of Strategic Education Inc. $STRA

Key Points

• Burgundy Asset Management Ltd. increased its stake in Strategic Education Inc. by 17.3%, adding 217,151 shares, bringing its total ownership to about 1.48 million shares valued at approximately $123.9 million.
• Several analysts have set price targets for Strategic Education, with BMO Capital Markets lowering its target from $98.00 to $88.00, while others maintain targets of $105.00.
• Strategic Education recently declared a quarterly dividend of $0.60 per share, which translates to an annualized yield of 3.1%, with the payout scheduled for September 15th.

Burgundy Asset Management Ltd. lifted its stake in shares of Strategic Education Inc. (NASDAQ:STRA - Free Report) by 17.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,475,831 shares of the health services provider's stock after acquiring an additional 217,151 shares during the period. Burgundy Asset Management Ltd. owned approximately 6.11% of Strategic Education worth $123,911,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in STRA. Sterling Capital Management LLC lifted its holdings in shares of Strategic Education by 809.1% during the 4th quarter. Sterling Capital Management LLC now owns 700 shares of the health services provider's stock worth $65,000 after acquiring an additional 623 shares during the last quarter. Significant Wealth Partners LLC lifted its holdings in shares of Strategic Education by 17.3% during the 1st quarter. Significant Wealth Partners LLC now owns 2,689 shares of the health services provider's stock worth $226,000 after acquiring an additional 396 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of Strategic Education by 105,000.0% during the 1st quarter. NBC Securities Inc. now owns 3,153 shares of the health services provider's stock worth $264,000 after acquiring an additional 3,150 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Strategic Education by 36.7% during the 1st quarter. International Assets Investment Management LLC now owns 3,251 shares of the health services provider's stock worth $273,000 after acquiring an additional 872 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Strategic Education by 7.5% during the 4th quarter. Bank of Montreal Can now owns 3,542 shares of the health services provider's stock worth $331,000 after acquiring an additional 246 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STRA. Wall Street Zen downgraded shares of Strategic Education from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. BMO Capital Markets lowered their price target on shares of Strategic Education from $98.00 to $88.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Barrington Research reissued an "outperform" rating and issued a $105.00 price target on shares of Strategic Education in a research note on Wednesday, July 30th. Finally, Truist Financial set a $105.00 price target on shares of Strategic Education in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Strategic Education currently has an average rating of "Buy" and a consensus target price of $99.33.

Strategic Education Stock Up 1.8%

Shares of NASDAQ:STRA traded up $1.42 during midday trading on Friday, hitting $81.94. 42,324 shares of the stock traded hands, compared to its average volume of 171,576. The stock has a market capitalization of $1.96 billion, a PE ratio of 17.04, a P/E/G ratio of 0.93 and a beta of 0.58. The business's 50 day moving average is $80.41 and its two-hundred day moving average is $84.66. Strategic Education Inc. has a one year low of $72.25 and a one year high of $104.51.

Strategic Education (NASDAQ:STRA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The health services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. The firm had revenue of $321.47 million during the quarter, compared to the consensus estimate of $322.84 million. Strategic Education had a net margin of 9.27% and a return on equity of 7.52%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 earnings per share. As a group, sell-side analysts forecast that Strategic Education Inc. will post 4.79 earnings per share for the current year.

Strategic Education Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Strategic Education's dividend payout ratio is 49.90%.

Strategic Education Company 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.