UL Solutions Inc. (NYSE:ULS) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in UL Solutions Inc. (NYSE:ULS) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,874 shares of the company’s stock after acquiring an additional 6,727 shares during the period. Wells Fargo & Company MN owned 0.11% of UL Solutions worth $11,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ULS. Norges Bank acquired a new stake in shares of UL Solutions in the 4th quarter valued at about $173,869,000. JPMorgan Chase & Co. lifted its stake in UL Solutions by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock valued at $222,658,000 after buying an additional 1,022,851 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of UL Solutions in the fourth quarter valued at approximately $32,091,000. Burkehill Global Management LP purchased a new position in shares of UL Solutions during the fourth quarter worth approximately $24,940,000. Finally, Vanguard Group Inc. increased its holdings in shares of UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock valued at $278,016,000 after acquiring an additional 401,492 shares during the period.

Analyst Ratings Changes

A number of research firms have commented on ULS. JPMorgan Chase & Co. lifted their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. The Goldman Sachs Group upped their price objective on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Finally, Citigroup increased their price objective on UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UL Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.45.

UL Solutions Stock Up 0.3 %

ULS opened at $57.65 on Wednesday. The business has a 50 day simple moving average of $54.25 and a 200-day simple moving average of $52.69. The stock has a market capitalization of $11.54 billion and a P/E ratio of 35.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. UL Solutions Inc. has a 12 month low of $33.50 and a 12 month high of $59.23.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. On average, equities analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions’s dividend payout ratio is currently 32.10%.

Insiders Place Their Bets

In related news, EVP Alberto Uggetti sold 1,938 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

About UL Solutions

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.