Universal Technical Institute, Inc. (NYSE:UTI) Stake Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Universal Technical Institute, Inc. (NYSE:UTI) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,268 shares of the company’s stock after purchasing an additional 7,112 shares during the quarter. Bank of New York Mellon Corp’s holdings in Universal Technical Institute were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Universal Technical Institute by 55.0% during the 1st quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock valued at $37,872,000 after acquiring an additional 842,765 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Universal Technical Institute by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,840,356 shares of the company’s stock valued at $23,041,000 after purchasing an additional 63,445 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Universal Technical Institute in the second quarter valued at approximately $9,032,000. Russell Investments Group Ltd. lifted its position in Universal Technical Institute by 341.1% during the 1st quarter. Russell Investments Group Ltd. now owns 334,332 shares of the company’s stock worth $5,329,000 after acquiring an additional 258,532 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Universal Technical Institute by 2,058.7% in the 1st quarter. Acadian Asset Management LLC now owns 298,849 shares of the company’s stock valued at $4,763,000 after buying an additional 285,005 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jerome Alan Grant sold 68,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $17.53, for a total value of $1,192,040.00. Following the sale, the chief executive officer now owns 136,443 shares in the company, valued at approximately $2,391,845.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 27.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. B. Riley reiterated a “buy” rating and set a $22.00 price target (up from $20.00) on shares of Universal Technical Institute in a report on Thursday, May 30th. Truist Financial began coverage on shares of Universal Technical Institute in a research note on Thursday, July 25th. They issued a “buy” rating and a $22.00 target price on the stock. Barrington Research restated an “outperform” rating and set a $22.00 target price on shares of Universal Technical Institute in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Universal Technical Institute in a research report on Wednesday, September 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $21.60.

Universal Technical Institute Trading Down 0.6 %

NYSE:UTI opened at $16.63 on Wednesday. The firm has a market capitalization of $894.71 million, a price-to-earnings ratio of 46.22, a PEG ratio of 1.56 and a beta of 1.35. The business’s 50-day moving average price is $17.37 and its two-hundred day moving average price is $15.88. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Universal Technical Institute, Inc. has a 1-year low of $7.78 and a 1-year high of $19.79.

Universal Technical Institute (NYSE:UTI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $177.46 million during the quarter, compared to analyst estimates of $172.33 million. Universal Technical Institute had a net margin of 3.82% and a return on equity of 12.66%. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, equities analysts expect that Universal Technical Institute, Inc. will post 0.71 earnings per share for the current year.

Universal Technical Institute Profile

Universal Technical Institute, Inc provides transportation, skilled trades, and healthcare education programs in the United States. The company operates in two segments, UTI and Concorde. It offers certificate, diploma, or degree programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.