Envestnet Asset Management Inc. Purchases 476,121 Shares of UL Solutions Inc. $ULS

Envestnet Asset Management Inc. raised its position in UL Solutions Inc. (NYSE:ULS) by 405.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 593,484 shares of the company’s stock after buying an additional 476,121 shares during the period. Envestnet Asset Management Inc. owned 0.30% of UL Solutions worth $42,054,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of UL Solutions by 119.5% in the first quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock valued at $8,090,000 after acquiring an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in UL Solutions by 104.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock valued at $25,953,000 after purchasing an additional 234,913 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of UL Solutions by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock valued at $6,981,000 after purchasing an additional 13,205 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of UL Solutions during the 1st quarter valued at $49,000. Finally, KLP Kapitalforvaltning AS increased its position in shares of UL Solutions by 1.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 17,100 shares of the company’s stock valued at $1,246,000 after purchasing an additional 200 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on ULS. The Goldman Sachs Group boosted their price target on shares of UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Zacks Research cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $84.00 target price (up from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Robert W. Baird set a $97.00 price objective on UL Solutions and gave the company an “outperform” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.57.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $73.30 on Wednesday. The company has a 50 day moving average of $76.76 and a 200 day moving average of $75.02. The stock has a market cap of $14.73 billion, a P/E ratio of 43.89 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. UL Solutions Inc. has a 12 month low of $49.34 and a 12 month high of $91.95.

UL Solutions Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.