Federated Hermes Inc. Boosts Stock Position in Universal Technical Institute, Inc. (NYSE:UTI)

Federated Hermes Inc. lifted its stake in Universal Technical Institute, Inc. (NYSE:UTI) by 7,741.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,355 shares of the company’s stock after acquiring an additional 70,445 shares during the period. Federated Hermes Inc. owned approximately 0.13% of Universal Technical Institute worth $1,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Universal Technical Institute by 55.0% in the 1st quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock worth $37,872,000 after purchasing an additional 842,765 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Universal Technical Institute by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,840,356 shares of the company’s stock valued at $23,041,000 after acquiring an additional 63,445 shares during the period. American Century Companies Inc. boosted its position in shares of Universal Technical Institute by 5.4% in the second quarter. American Century Companies Inc. now owns 765,562 shares of the company’s stock valued at $12,042,000 after acquiring an additional 39,553 shares during the period. Hennessy Advisors Inc. purchased a new position in Universal Technical Institute during the second quarter valued at approximately $9,032,000. Finally, Pembroke Management LTD increased its holdings in Universal Technical Institute by 646.3% during the 2nd quarter. Pembroke Management LTD now owns 369,308 shares of the company’s stock worth $5,809,000 after acquiring an additional 319,820 shares during the period. 75.67% of the stock is currently owned by hedge funds and other institutional investors.

Universal Technical Institute Price Performance

UTI opened at $16.46 on Friday. The stock has a market capitalization of $885.56 million, a P/E ratio of 45.72, a PEG ratio of 1.58 and a beta of 1.35. 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 12-month low of $7.78 and a 12-month high of $19.79. The stock has a 50-day moving average price of $17.41 and a 200-day moving average price of $15.91.

Universal Technical Institute (NYSE:UTI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $177.46 million for the quarter, compared to analysts’ expectations 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 period last year, the business earned ($0.05) earnings per share. Equities analysts predict that Universal Technical Institute, Inc. will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Universal Technical Institute news, CEO Jerome Alan Grant sold 68,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the completion of the sale, the chief executive officer now directly owns 136,443 shares in the company, valued at $2,391,845.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 27.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on UTI shares. Truist Financial began coverage on shares of Universal Technical Institute in a report on Thursday, July 25th. They issued a “buy” rating and a $22.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $22.00 price objective on shares of Universal Technical Institute in a research note on Wednesday, September 11th. Barrington Research restated an “outperform” rating and issued a $22.00 target price on shares of Universal Technical Institute in a research note on Wednesday, August 7th. B. Riley reiterated a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Universal Technical Institute in a research report on Thursday, May 30th. Finally, Northland Securities boosted their price objective on Universal Technical Institute from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Universal Technical Institute has a consensus rating of “Buy” and an average price target of $21.60.

About Universal Technical Institute

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.