Rhumbline Advisers Takes Position in UL Solutions Inc. (NYSE:ULS)

Rhumbline Advisers acquired a new position in UL Solutions Inc. (NYSE:ULS) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 875 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in UL Solutions by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock worth $278,016,000 after acquiring an additional 401,492 shares during the period. Picton Mahoney Asset Management increased its stake in shares of UL Solutions by 18.6% in the 4th quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company’s stock worth $5,722,000 after purchasing an additional 18,019 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of UL Solutions in the 4th quarter worth $332,000. Wells Fargo & Company MN raised its holdings in UL Solutions by 3.1% in the 4th quarter. Wells Fargo & Company MN now owns 225,874 shares of the company’s stock worth $11,267,000 after purchasing an additional 6,727 shares during the period. Finally, Blackstone Inc. lifted its position in UL Solutions by 11.1% during the fourth quarter. Blackstone Inc. now owns 250,000 shares of the company’s stock valued at $12,470,000 after purchasing an additional 25,000 shares in the last quarter.

Insider Buying and Selling

In related news, insider Gitte Schjotz sold 7,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the sale, the insider now directly owns 46,889 shares in the company, valued at approximately $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president now owns 9,285 shares of the company’s stock, valued at $649,950. This represents a 17.44% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on ULS. The Goldman Sachs Group upped their price target on UL Solutions from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. UBS Group increased their target price on shares of UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Robert W. Baird raised their target price on shares of UL Solutions from $60.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a “neutral” rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Finally, Wells Fargo & Company increased their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, UL Solutions currently has an average rating of “Hold” and a consensus price target of $69.43.

UL Solutions Stock Performance

NYSE ULS opened at $72.25 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. UL Solutions Inc. has a twelve month low of $39.86 and a twelve month high of $73.98. The business has a 50-day moving average price of $67.33 and a 200-day moving average price of $57.95. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 43.27 and a beta of 1.21.

UL Solutions (NYSE:ULS) last posted 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 40.79% and a net margin of 11.60%. The company had revenue of $705.00 million for the quarter, compared to analysts’ expectations of $704.19 million. UL Solutions’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.72%. UL Solutions’s dividend payout ratio is 31.14%.

UL Solutions 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.