Teacher Retirement System of Texas Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Teacher Retirement System of Texas bought a new position in shares of UL Solutions Inc. (NYSE:ULS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,837 shares of the company’s stock, valued at approximately $555,000.

Several other hedge funds have also recently modified their holdings of the company. Capital International Investors lifted its position in shares of UL Solutions by 7.4% during the 4th quarter. Capital International Investors now owns 11,691,957 shares of the company’s stock worth $583,324,000 after buying an additional 809,779 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of UL Solutions by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock worth $278,016,000 after buying an additional 401,492 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of UL Solutions by 88.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company’s stock worth $210,729,000 after buying an additional 1,987,295 shares in the last quarter. FMR LLC lifted its position in shares of UL Solutions by 17.2% during the 4th quarter. FMR LLC now owns 4,178,072 shares of the company’s stock worth $208,402,000 after buying an additional 612,834 shares in the last quarter. Finally, Norges Bank bought a new position in shares of UL Solutions during the 4th quarter worth approximately $173,869,000.

UL Solutions Stock Down 0.3%

UL Solutions stock opened at $70.77 on Thursday. UL Solutions Inc. has a 1-year low of $43.70 and a 1-year high of $73.98. The firm has a market capitalization of $14.19 billion, a price-to-earnings ratio of 42.38 and a beta of 1.02. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $71.20 and a 200 day simple moving average of $60.06.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

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

Insider Buying and Selling

In related news, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the transaction, the insider directly owned 46,889 shares in the company, valued at approximately $3,162,194.16. The trade was a 12.99% decrease in their position. 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 UL Solutions stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $137,270.00. Following the completion of the transaction, the executive vice president owned 9,285 shares of the company’s stock, valued at $649,950. This represents a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of UL Solutions from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Raymond James Financial raised their price target on shares of UL Solutions from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Robert W. Baird raised their price target 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. UBS Group raised their price target on shares of UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company raised their price target 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.43.

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.