Northern Trust Corp Buys 29,755 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Northern Trust Corp grew its stake in Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 373,754 shares of the company's stock after purchasing an additional 29,755 shares during the quarter. Northern Trust Corp owned about 0.69% of Universal Technical Institute worth $9,609,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Wedge Capital Management L L P NC acquired a new stake in Universal Technical Institute during the 4th quarter worth $1,041,000. Precision Wealth Strategies LLC acquired a new stake in Universal Technical Institute during the 4th quarter worth $632,000. Rhumbline Advisers raised its stake in Universal Technical Institute by 37.4% during the 4th quarter. Rhumbline Advisers now owns 71,407 shares of the company's stock worth $1,836,000 after buying an additional 19,453 shares during the period. Principal Financial Group Inc. raised its stake in Universal Technical Institute by 9.6% during the 4th quarter. Principal Financial Group Inc. now owns 26,623 shares of the company's stock worth $684,000 after buying an additional 2,335 shares during the period. Finally, Pembroke Management LTD raised its stake in Universal Technical Institute by 22.6% during the 4th quarter. Pembroke Management LTD now owns 503,007 shares of the company's stock worth $12,932,000 after buying an additional 92,844 shares during the period. Institutional investors and hedge funds own 75.67% of the company's stock.

Analysts Set New Price Targets

UTI has been the topic of several research analyst reports. Truist Financial raised their price objective on Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research note on Thursday, May 8th. B. Riley initiated coverage on Universal Technical Institute in a research note on Friday, March 28th. They set a "buy" rating and a $31.00 price objective on the stock. Barrington Research raised their price objective on Universal Technical Institute from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Northland Securities raised their price objective on Universal Technical Institute from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Universal Technical Institute has an average rating of "Buy" and an average price target of $35.83.

Universal Technical Institute Stock Up 2.0%

UTI stock traded up $0.68 during trading hours on Friday, reaching $34.97. 821,163 shares of the stock were exchanged, compared to its average volume of 596,679. The firm's 50-day moving average is $28.91 and its 200-day moving average is $26.85. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 1.92 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14. Universal Technical Institute, Inc. has a 12 month low of $13.66 and a 12 month high of $36.32.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.07. The firm had revenue of $207.45 million during the quarter, compared to analysts' expectations of $196.63 million. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. On average, equities research analysts expect that Universal Technical Institute, Inc. will post 1 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Todd A. Hitchcock sold 27,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $33.36, for a total value of $917,400.00. Following the completion of the transaction, the chief operating officer now owns 80,521 shares in the company, valued at $2,686,180.56. This trade represents a 25.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George W. Brochick sold 6,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $31.84, for a total value of $191,040.00. Following the completion of the transaction, the director now owns 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. In the last 90 days, insiders sold 128,024 shares of company stock worth $3,686,890. Corporate 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.