Envestnet Asset Management Inc. Grows Stake in UL Solutions Inc. (NYSE:ULS)

Envestnet Asset Management Inc. lifted its stake in UL Solutions Inc. (NYSE:ULS) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,985 shares of the company’s stock after buying an additional 31,270 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of UL Solutions worth $8,429,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Stifel Financial Corp boosted its holdings in UL Solutions by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 30,500 shares of the company’s stock worth $1,504,000 after acquiring an additional 485 shares during the period. State Street Corp lifted its position in shares of UL Solutions by 85.3% during the third quarter. State Street Corp now owns 269,616 shares of the company’s stock worth $13,292,000 after purchasing an additional 124,116 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of UL Solutions by 55.2% in the third quarter. Geode Capital Management LLC now owns 600,936 shares of the company’s stock valued at $29,639,000 after purchasing an additional 213,635 shares during the period. JPMorgan Chase & Co. grew its holdings in UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock valued at $222,658,000 after purchasing an additional 1,022,851 shares in the last quarter. Finally, Baker Chad R increased its stake in UL Solutions by 91.0% during the 4th quarter. Baker Chad R now owns 112,300 shares of the company’s stock worth $5,602,000 after buying an additional 53,500 shares during the period.

UL Solutions Price Performance

Shares of ULS opened at $55.64 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm has a market cap of $11.14 billion and a price-to-earnings ratio of 34.34. UL Solutions Inc. has a 52 week low of $33.50 and a 52 week high of $59.23. The stock has a 50 day moving average of $54.30 and a 200-day moving average of $52.82.

UL Solutions (NYSE:ULS) last released its earnings results 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. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The firm had revenue of $739.00 million during the quarter, compared to analyst estimates of $726.54 million. As a group, analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 0.93%. UL Solutions’s dividend payout ratio is 32.10%.

Insiders Place Their Bets

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction on Friday, March 7th. The stock was 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 $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

UL Solutions Company Profile

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.