Bank of America Corp DE Buys 148,686 Shares of UL Solutions Inc. (NYSE:ULS)

Bank of America Corp DE increased its stake in UL Solutions Inc. (NYSE:ULS) by 225.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,714 shares of the company’s stock after purchasing an additional 148,686 shares during the period. Bank of America Corp DE owned approximately 0.11% of UL Solutions worth $10,710,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital International Investors grew its position in UL Solutions by 7.4% during the fourth 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 during the last quarter. Vanguard Group Inc. grew its position in UL Solutions by 7.8% during the fourth 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 last quarter. JPMorgan Chase & Co. grew its position in UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock valued at $222,658,000 after acquiring an additional 1,022,851 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in UL Solutions by 88.8% during 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 acquiring an additional 1,987,295 shares during the last quarter. Finally, FMR LLC grew its position in UL Solutions by 17.2% during the fourth quarter. FMR LLC now owns 4,178,072 shares of the company’s stock valued at $208,402,000 after acquiring an additional 612,834 shares during the last quarter.

UL Solutions Stock Performance

NYSE:ULS opened at $71.70 on Friday. The firm has a market cap of $14.35 billion and a PE 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 company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The business has a 50 day moving average price of $60.03 and a 200-day moving average price of $54.98.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The company had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. The company’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price target 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. Robert W. Baird increased their price target on shares of UL Solutions from $60.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price target on shares of UL Solutions from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Raymond James increased their price objective on UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Citigroup reissued a “neutral” rating and set a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.43.

Insider Buying and Selling

In related news, EVP Alberto Uggetti sold 1,938 shares of the firm’s 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 completion of the sale, the executive vice president now 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 legal filing with the SEC, which is available through this link. Also, insider Gitte Schjotz sold 7,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the sale, the insider now directly owns 46,889 shares of the company’s stock, valued at $3,162,194.16. The trade was a 12.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,899 shares of company stock valued at $712,064 over the last quarter. 1.20% of the stock is owned by company insiders.

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.