The Manufacturers Life Insurance Company Acquires 3,185 Shares of UL Solutions Inc. (NYSE:ULS)

The Manufacturers Life Insurance Company raised its stake in UL Solutions Inc. (NYSE:ULS) by 56.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,827 shares of the company’s stock after buying an additional 3,185 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in UL Solutions were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ULS. Capital International Investors grew its holdings in shares of UL Solutions by 7.4% in the 4th quarter. Capital International Investors now owns 11,691,957 shares of the company’s stock valued at $583,324,000 after acquiring an additional 809,779 shares in the last quarter. Vanguard Group Inc. grew its holdings in UL Solutions by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock worth $278,016,000 after purchasing an additional 401,492 shares during the period. JPMorgan Chase & Co. raised 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 period. T. Rowe Price Investment Management Inc. lifted its position in shares of UL Solutions by 88.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company’s stock valued at $210,729,000 after buying an additional 1,987,295 shares during the last quarter. Finally, FMR LLC lifted its position in shares of UL Solutions by 17.2% in the fourth quarter. FMR LLC now owns 4,178,072 shares of the company’s stock valued at $208,402,000 after buying an additional 612,834 shares during the last quarter.

Insider Activity

In related news, insider Gitte Schjotz sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the sale, the insider now owns 46,889 shares of the company’s stock, valued at $3,162,194.16. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total transaction of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares in the company, valued at $492,105. This trade represents a 17.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,899 shares of company stock worth $712,064. Insiders own 1.20% of the company’s stock.

UL Solutions Price Performance

Shares of ULS stock opened at $72.67 on Friday. The business has a fifty day simple moving average of $58.04 and a 200 day simple moving average of $54.31. UL Solutions Inc. has a twelve month low of $36.87 and a twelve month high of $72.76. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The company has a market cap of $14.55 billion and a P/E ratio of 44.86.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $704.19 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. UL Solutions’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Robert W. Baird raised their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. UBS Group increased their price objective on UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a “neutral” rating and set a $71.00 target price (up from $60.50) on shares of UL Solutions in a report on Wednesday. Finally, The Goldman Sachs Group raised their target price on shares of UL Solutions from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.43.

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.