Principal Financial Group Inc. Increases Holdings in Universal Technical Institute Inc (NYSE:UTI)

Principal Financial Group Inc. grew its holdings in shares of Universal Technical Institute Inc (NYSE:UTI) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,399 shares of the company’s stock after buying an additional 776 shares during the period. Principal Financial Group Inc. owned 0.05% of Universal Technical Institute worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Covestor Ltd lifted its holdings in shares of Universal Technical Institute by 24.4% in the 4th quarter. Covestor Ltd now owns 1,977 shares of the company’s stock valued at $51,000 after purchasing an additional 388 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Universal Technical Institute in the 1st quarter valued at about $84,000. Lazard Asset Management LLC purchased a new stake in shares of Universal Technical Institute in the 4th quarter valued at about $101,000. Aquatic Capital Management LLC acquired a new position in Universal Technical Institute in the 4th quarter valued at about $118,000. Finally, Meeder Asset Management Inc. increased its position in Universal Technical Institute by 418.6% in the 4th quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company’s stock valued at $202,000 after acquiring an additional 6,337 shares during the period. 75.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Universal Technical Institute news, COO Todd A. Hitchcock sold 27,500 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $33.36, for a total transaction of $917,400.00. Following the completion of the transaction, the chief operating officer owned 80,521 shares of the company’s stock, valued at approximately $2,686,180.56. This trade represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George W. Brochick sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $31.84, for a total value of $191,040.00. Following the transaction, the director directly owned 32,516 shares of the company’s stock, valued at $1,035,309.44. The trade was a 15.58% 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 Price Performance

Shares of NYSE:UTI opened at $32.51 on Friday. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 2.05 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day simple moving average is $33.58 and its 200-day simple moving average is $29.45. Universal Technical Institute Inc has a 12 month low of $15.14 and a 12 month high of $36.32.

Universal Technical Institute (NYSE:UTI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $207.45 million for the quarter, compared to analysts’ expectations of $196.63 million. Universal Technical Institute had a return on equity of 21.40% and a net margin of 7.34%. As a group, equities analysts forecast that Universal Technical Institute Inc will post 1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on UTI shares. Lake Street Capital restated a “buy” rating and issued a $38.00 price target (up previously from $35.00) on shares of Universal Technical Institute in a research report on Wednesday, May 21st. Truist Financial boosted their price target on Universal Technical Institute from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. B. Riley assumed coverage on Universal Technical Institute in a research report on Friday, March 28th. They issued a “buy” rating and a $31.00 price target on the stock. Barrington Research reiterated an “outperform” rating and set a $36.00 target price on shares of Universal Technical Institute in a research report on Thursday, June 12th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $36.00 target price on shares of Universal Technical Institute in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Universal Technical Institute currently has an average rating of “Buy” and an average target price of $35.83.

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.