Bank of New York Mellon Corp Increases Position in Universal Technical Institute, Inc. (NYSE:UTI)

Bank of New York Mellon Corp grew its position in shares of Universal Technical Institute, Inc. (NYSE:UTI) by 5.0% in the fourth quarter, HoldingsChannel reports. The firm owned 101,014 shares of the company’s stock after buying an additional 4,842 shares during the quarter. Bank of New York Mellon Corp’s holdings in Universal Technical Institute were worth $2,597,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Arcadia Investment Management Corp MI purchased a new position in shares of Universal Technical Institute during the 4th quarter worth about $79,000. Quarry LP increased its position in shares of Universal Technical Institute by 380.6% during the third quarter. Quarry LP now owns 3,859 shares of the company’s stock worth $63,000 after purchasing an additional 3,056 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Universal Technical Institute in the 3rd quarter worth approximately $152,000. Y Intercept Hong Kong Ltd purchased a new position in Universal Technical Institute in the 3rd quarter worth $174,000. Finally, Intech Investment Management LLC purchased a new stake in Universal Technical Institute in the third quarter valued at approximately $188,000. Institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Stock Down 0.8 %

Shares of NYSE:UTI opened at $27.75 on Friday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.92 and a beta of 1.49. Universal Technical Institute, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $30.56. The firm’s 50-day simple moving average is $27.20 and its 200-day simple moving average is $22.71. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42.

Universal Technical Institute (NYSE:UTI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.22. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. As a group, equities research analysts predict that Universal Technical Institute, Inc. will post 1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on UTI. Northland Securities raised their price target on shares of Universal Technical Institute from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barrington Research boosted their price target on shares of Universal Technical Institute from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Truist Financial boosted their target price on Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Lake Street Capital upped their price target on Universal Technical Institute from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Rosenblatt Securities raised their price objective on shares of Universal Technical Institute from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Universal Technical Institute presently has a consensus rating of “Buy” and an average target price of $31.17.

Insiders Place Their Bets

In other Universal Technical Institute news, EVP Sherrell Smith sold 36,773 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $26.68, for a total transaction of $981,103.64. Following the completion of the sale, the executive vice president now owns 227,358 shares in the company, valued at $6,065,911.44. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George W. Brochick sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $27.59, for a total value of $220,720.00. Following the transaction, the director now owns 34,917 shares of the company’s stock, valued at $963,360.03. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.

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.