Bank of New York Mellon Corp Invests $12.13 Million in Universal Technical Institute Inc $UTI

Bank of New York Mellon Corp bought a new stake in Universal Technical Institute Inc (NYSE:UTI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 283,722 shares of the company's stock, valued at approximately $12,135,000. Bank of New York Mellon Corp owned about 0.52% of Universal Technical Institute at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of UTI. Coliseum Capital Management LLC increased its stake in shares of Universal Technical Institute by 46.2% in the fourth quarter. Coliseum Capital Management LLC now owns 3,971,440 shares of the company's stock worth $103,774,000 after buying an additional 1,255,173 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of Universal Technical Institute by 1,366.0% in the first quarter. Conestoga Capital Advisors LLC now owns 1,292,125 shares of the company's stock worth $46,646,000 after purchasing an additional 1,203,985 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Universal Technical Institute by 132.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,998,354 shares of the company's stock worth $52,217,000 after purchasing an additional 1,140,465 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Universal Technical Institute by 65.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,599,534 shares of the company's stock valued at $41,797,000 after purchasing an additional 631,070 shares during the period. Finally, Nuveen LLC increased its holdings in Universal Technical Institute by 168.8% during the 4th quarter. Nuveen LLC now owns 995,323 shares of the company's stock valued at $26,008,000 after purchasing an additional 625,102 shares during the period. 75.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Universal Technical Institute

In related news, CEO Jerome Alan Grant sold 94,500 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $41.40, for a total transaction of $3,912,300.00. Following the sale, the chief executive officer owned 335,715 shares of the company's stock, valued at $13,898,601. The trade was a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christine Kline sold 3,500 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $44.42, for a total transaction of $155,470.00. Following the completion of the sale, the chief accounting officer owned 43,006 shares in the company, valued at approximately $1,910,326.52. This trade represents a 7.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,102,545 shares of company stock valued at $128,449,570 in the last quarter. 9.80% of the stock is owned by insiders.

Universal Technical Institute Trading Down 0.9%

NYSE UTI opened at $20.93 on Wednesday. The firm has a market capitalization of $1.15 billion, a PE ratio of 33.76, a P/E/G ratio of 2.32 and a beta of 1.17. The stock's 50 day moving average is $35.65 and its 200 day moving average is $36.57. Universal Technical Institute Inc has a twelve month low of $20.70 and a twelve month high of $51.34. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. Universal Technical Institute had a return on equity of 10.18% and a net margin of 3.88%.The business had revenue of $218.91 million during the quarter, compared to the consensus estimate of $220.40 million. Research analysts forecast that Universal Technical Institute Inc will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $45.00 price objective on shares of Universal Technical Institute in a research report on Thursday, August 6th. B. Riley Financial decreased their target price on Universal Technical Institute from $49.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Weiss Ratings raised Universal Technical Institute from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Truist Financial cut their price target on shares of Universal Technical Institute from $47.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Finally, Northland Securities set a $41.00 price objective on shares of Universal Technical Institute in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $43.83.

Universal Technical Institute Company Profile

Universal Technical Institute, Inc NYSE: UTI is a leading provider of post-secondary education for students pursuing careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, as well as in welding and CNC machining. The company designs and delivers hands-on training through a blend of classroom instruction and experiential lab work, preparing graduates for entry-level positions in the transportation, manufacturing and energy sectors. UTI's curriculum emphasizes industry-recognized credentials and proprietary coursework developed in collaboration with original equipment manufacturers (OEMs) to ensure alignment with evolving employer needs.

Through a network of campus locations across the United States and select centers in Canada, Universal Technical Institute offers diploma and certificate programs ranging from 36 to 74 weeks in length.

Want to see what other hedge funds are holding UTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Technical Institute Inc (NYSE:UTI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source