Envestnet Asset Management Inc. Purchases 5,239 Shares of UL Solutions Inc. (NYSE:ULS)

Envestnet Asset Management Inc. boosted its position in shares of UL Solutions Inc. (NYSE:ULS) by 3.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,224 shares of the company’s stock after purchasing an additional 5,239 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of UL Solutions worth $9,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in UL Solutions during the 4th quarter worth about $32,000. PNC Financial Services Group Inc. raised its holdings in UL Solutions by 653.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock worth $33,000 after purchasing an additional 582 shares during the last quarter. Rhumbline Advisers bought a new stake in UL Solutions during the 1st quarter worth about $49,000. Northwest & Ethical Investments L.P. raised its holdings in UL Solutions by 23.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company’s stock worth $105,000 after purchasing an additional 400 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in UL Solutions during the 4th quarter worth about $201,000.

Insider Activity at UL Solutions

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

UL Solutions Price Performance

Shares of ULS opened at $70.21 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $71.20 and a 200 day simple moving average of $60.49. UL Solutions Inc. has a 52-week low of $44.01 and a 52-week high of $73.98. The firm has a market capitalization of $14.08 billion, a PE ratio of 42.04 and a beta of 1.02.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. UL Solutions’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal 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 given a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.74%. UL Solutions’s dividend payout ratio is presently 31.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ULS. UBS Group upped their price target on UL Solutions from $58.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Raymond James Financial upped their price target on UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price target on UL Solutions from $65.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a “neutral” rating and issued a $71.00 price target (up from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, Robert W. Baird upped their price target on UL Solutions from $60.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.