Allspring Global Investments Holdings LLC Grows Stock Position in UL Solutions Inc. $ULS

Allspring Global Investments Holdings LLC grew its stake in UL Solutions Inc. (NYSE:ULS) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,550,913 shares of the company’s stock after buying an additional 167,564 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.77% of UL Solutions worth $125,484,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in UL Solutions by 18.2% during the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock worth $61,000 after purchasing an additional 133 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of UL Solutions by 4.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,541 shares of the company’s stock worth $251,000 after buying an additional 145 shares during the period. Cresset Asset Management LLC grew its stake in shares of UL Solutions by 4.0% in the second quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after buying an additional 159 shares in the last quarter. Sheets Smith Wealth Management grew its stake in shares of UL Solutions by 3.6% in the third quarter. Sheets Smith Wealth Management now owns 4,674 shares of the company’s stock valued at $331,000 after buying an additional 164 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of UL Solutions by 11.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,521 shares of the company’s stock valued at $179,000 after buying an additional 256 shares during the period.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. increased their price target on shares of UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Bank of America raised their price objective on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Citigroup cut their target price on shares of UL Solutions from $88.10 to $87.80 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Finally, UBS Group increased their target price on shares of UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, UL Solutions presently has a consensus rating of “Hold” and a consensus price target of $87.60.

UL Solutions Price Performance

ULS stock opened at $82.16 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $16.52 billion, a P/E ratio of 51.67, a P/E/G ratio of 3.44 and a beta of 0.85. The business’s 50-day moving average is $78.01 and its two-hundred day moving average is $78.46. UL Solutions Inc. has a 1 year low of $49.93 and a 1 year high of $91.95.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.53 EPS for the quarter, topping 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 the consensus estimate of $782.37 million. During the same period in the previous year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.145 per share. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, March 2nd. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is presently 36.48%.

About UL Solutions

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.