Principal Financial Group Inc. Purchases 2,335 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Principal Financial Group Inc. boosted its position in Universal Technical Institute, Inc. (NYSE:UTI) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,623 shares of the company’s stock after purchasing an additional 2,335 shares during the quarter. Principal Financial Group Inc.’s holdings in Universal Technical Institute were worth $684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in Universal Technical Institute by 73,048.1% during the 3rd quarter. FMR LLC now owns 879,240 shares of the company’s stock valued at $14,296,000 after acquiring an additional 878,038 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Universal Technical Institute during the third quarter valued at approximately $10,217,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Universal Technical Institute by 362.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 376,929 shares of the company’s stock valued at $9,691,000 after purchasing an additional 295,408 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Universal Technical Institute by 198.0% in the 3rd 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. Finally, Pier Capital LLC grew its stake in shares of Universal Technical Institute by 57.3% in the 3rd quarter. Pier Capital LLC now owns 553,382 shares of the company’s stock worth $8,998,000 after buying an additional 201,573 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Trading Down 4.8 %

Shares of UTI stock opened at $26.26 on Friday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 27.07, a P/E/G ratio of 1.92 and a beta of 1.45. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $27.00 and its 200 day moving average is $22.02. Universal Technical Institute, Inc. has a 12-month low of $13.66 and a 12-month high of $30.56.

Universal Technical Institute (NYSE:UTI) last posted its earnings results on Wednesday, February 5th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. Research analysts expect that Universal Technical Institute, Inc. will post 1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UTI has been the subject of several recent analyst reports. Truist Financial lifted their price target on Universal Technical Institute from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Lake Street Capital lifted their target price on shares of Universal Technical Institute from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. B. Riley increased their price target on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Northland Securities boosted their price objective on shares of Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Barrington Research increased their target price on Universal Technical Institute from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $31.17.

Insider Activity

In related news, Director George W. Brochick sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $27.59, for a total value of $220,720.00. Following the transaction, the director now directly owns 34,917 shares of the company’s stock, valued at approximately $963,360.03. This trade represents a 18.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.