24,288 Shares in Universal Technical Institute, Inc. (NYSE:UTI) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new stake in Universal Technical Institute, Inc. (NYSE:UTI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,288 shares of the company’s stock, valued at approximately $395,000.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in Universal Technical Institute by 73,048.1% during the 3rd quarter. FMR LLC now owns 879,240 shares of the company’s stock worth $14,296,000 after acquiring an additional 878,038 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Universal Technical Institute in the third quarter worth about $10,217,000. Charles Schwab Investment Management Inc. grew its stake in Universal Technical Institute by 198.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 345,772 shares of the company’s stock worth $5,622,000 after purchasing an additional 229,738 shares in the last quarter. Resolute Capital Asset Partners LLC bought a new stake in Universal Technical Institute in the second quarter valued at about $3,534,000. Finally, Pier Capital LLC raised its stake in Universal Technical Institute by 57.3% during the third quarter. Pier Capital LLC now owns 553,382 shares of the company’s stock valued at $8,998,000 after buying an additional 201,573 shares in the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on UTI shares. Lake Street Capital lifted their target price on Universal Technical Institute from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. B. Riley lifted their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Truist Financial increased their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Northland Securities lifted their price target on shares of Universal Technical Institute from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Rosenblatt Securities increased their price objective on shares of Universal Technical Institute from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Universal Technical Institute has a consensus rating of “Buy” and a consensus target price of $26.33.

Insider Activity

In related news, Director Kenneth R. Trammell sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total transaction of $777,600.00. Following the transaction, the director now owns 128,205 shares of the company’s stock, valued at approximately $3,323,073.60. This trade represents a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 27.60% of the stock is currently owned by corporate insiders.

Universal Technical Institute Stock Up 3.1 %

NYSE:UTI opened at $26.20 on Monday. The business’s fifty day moving average price is $23.18 and its 200 day moving average price is $18.98. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 1.78 and a beta of 1.48. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.47. Universal Technical Institute, Inc. has a 1-year low of $12.14 and a 1-year high of $26.71.

Universal Technical Institute Company 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.