Ameriprise Financial Inc. Grows Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Ameriprise Financial Inc. raised its position in shares of UL Solutions Inc. (NYSE:ULS) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,579 shares of the company’s stock after purchasing an additional 3,929 shares during the period. Ameriprise Financial Inc. owned approximately 0.06% of UL Solutions worth $6,214,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Algert Global LLC purchased a new stake in UL Solutions during the fourth quarter valued at about $4,127,000. Voleon Capital Management LP bought a new stake in shares of UL Solutions in the 4th quarter valued at about $1,433,000. Northern Trust Corp boosted its holdings in UL Solutions by 34.1% during the 4th quarter. Northern Trust Corp now owns 183,724 shares of the company’s stock valued at $9,164,000 after acquiring an additional 46,736 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in UL Solutions by 56.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 8,827 shares of the company’s stock valued at $440,000 after acquiring an additional 3,185 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in UL Solutions during the 4th quarter worth approximately $1,141,000.

Insider Transactions at UL Solutions

In related news, insider Gitte Schjotz sold 7,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total transaction of $472,080.00. Following the sale, the insider now owns 46,889 shares of the company’s stock, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alberto Uggetti sold 1,938 shares of the business’s 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 sale, the executive vice president now directly owns 9,285 shares in the company, valued at $492,105. The trade was a 17.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,899 shares of company stock worth $712,064. 1.20% of the stock is currently owned by insiders.

UL Solutions Price Performance

Shares of ULS stock opened at $71.70 on Friday. The firm has a market cap of $14.35 billion and a P/E ratio of 44.26. UL Solutions Inc. has a fifty-two week low of $37.87 and a fifty-two week high of $72.81. The business’s 50 day moving average price is $60.03 and its 200-day moving average price is $54.98. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31.

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

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.73%. UL Solutions’s dividend payout ratio is currently 31.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup restated a “neutral” rating and set a $71.00 price target (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Wells Fargo & Company raised their price target on UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. UBS Group raised their price target on UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, Robert W. Baird raised their price target on UL Solutions from $60.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.43.

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.