Vanguard Group Inc. Has $78.39 Million Stock Holdings in Universal Technical Institute Inc $UTI

Key Points

• Vanguard Group Inc. increased its stake in Universal Technical Institute Inc. by 11.2% in Q1, holding approximately 5.61% of the company, valued at $78.39 million.
• Universal Technical Institute reported Q2 earnings of $0.19 per share, exceeding analyst expectations, with revenues hitting $204.30 million.
• Wall Street analysts maintain a generally positive outlook with an average buy rating and a price target of approximately $35.83 for the stock.

Vanguard Group Inc. boosted its holdings in Universal Technical Institute Inc (NYSE:UTI - Free Report) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,052,652 shares of the company's stock after purchasing an additional 306,984 shares during the period. Vanguard Group Inc. owned approximately 5.61% of Universal Technical Institute worth $78,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in UTI. Lord Abbett & CO. LLC grew its position in shares of Universal Technical Institute by 194.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,847,423 shares of the company's stock worth $47,497,000 after buying an additional 1,219,052 shares during the last quarter. Dumac Inc. purchased a new position in Universal Technical Institute during the fourth quarter valued at $43,236,000. Alyeska Investment Group L.P. raised its stake in Universal Technical Institute by 10.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,131,759 shares of the company's stock valued at $29,098,000 after buying an additional 109,255 shares during the last quarter. Victory Capital Management Inc. raised its stake in Universal Technical Institute by 43.4% during the first quarter. Victory Capital Management Inc. now owns 743,006 shares of the company's stock valued at $19,080,000 after buying an additional 224,750 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Universal Technical Institute by 8.6% during the fourth quarter. Northern Trust Corp now owns 373,754 shares of the company's stock valued at $9,609,000 after buying an additional 29,755 shares during the last quarter. Institutional investors own 75.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on UTI shares. Lake Street Capital reiterated a "buy" rating and set a $38.00 price objective (up previously from $35.00) on shares of Universal Technical Institute in a research note on Wednesday, May 21st. Wall Street Zen cut Universal Technical Institute from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Truist Financial lifted their price objective on Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research note on Thursday, August 7th. Finally, Barrington Research reiterated an "outperform" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, Universal Technical Institute currently has an average rating of "Buy" and a consensus target price of $35.83.

Universal Technical Institute Stock Performance

NYSE:UTI traded down $0.30 during trading hours on Thursday, hitting $26.79. 323,884 shares of the company traded hands, compared to its average volume of 768,535. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.67 and a beta of 1.58. Universal Technical Institute Inc has a twelve month low of $15.14 and a twelve month high of $36.32. The firm has a 50-day moving average of $30.53 and a 200 day moving average of $29.87. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.23.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. Universal Technical Institute had a net margin of 7.79% and a return on equity of 22.12%. The firm had revenue of $204.30 million during the quarter, compared to analysts' expectations of $200.01 million. On average, analysts forecast that Universal Technical Institute Inc will post 1 EPS for the current year.

About Universal Technical Institute

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.