AIA Group Ltd Grows Stock Position in UL Solutions Inc. $ULS

AIA Group Ltd increased its position in shares of UL Solutions Inc. (NYSE:ULS) by 59.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,749 shares of the company’s stock after purchasing an additional 18,171 shares during the quarter. AIA Group Ltd’s holdings in UL Solutions were worth $3,454,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in UL Solutions by 119.5% during the first quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after acquiring an additional 78,081 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 234,913 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in UL Solutions by 11.9% in 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 worth $6,981,000 after purchasing an additional 13,205 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions during the 1st quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of UL Solutions by 28.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock worth $53,000 after purchasing an additional 161 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ULS shares. Citigroup cut their price target on UL Solutions from $88.10 to $87.80 and set a “neutral” rating for the company in a report on Tuesday, February 24th. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a report on Friday, February 20th. Wells Fargo & Company upped their price objective on shares of UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Bank of America raised their price objective on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Robert W. Baird decreased their target price on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, UL Solutions has an average rating of “Hold” and an average price target of $87.60.

UL Solutions Stock Down 3.5%

NYSE:ULS opened at $83.38 on Friday. UL Solutions Inc. has a 52 week low of $49.93 and a 52 week high of $91.95. The stock’s fifty day moving average is $77.18 and its two-hundred day moving average is $77.29. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of 52.44, a price-to-earnings-growth ratio of 3.55 and a beta of 0.87. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The business had revenue of $789.00 million during the quarter, compared to analysts’ expectations of $782.37 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a $0.145 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. UL Solutions’s payout ratio is 36.48%.

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.