Bank of New York Mellon Corp Has $31.85 Million Stock Holdings in UL Solutions Inc. $ULS

Bank of New York Mellon Corp reduced its position in shares of UL Solutions Inc. (NYSE:ULS) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,560 shares of the company’s stock after selling 9,370 shares during the period. Bank of New York Mellon Corp owned about 0.18% of UL Solutions worth $31,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisor OS LLC raised its stake in shares of UL Solutions by 4.4% during the fourth quarter. Advisor OS LLC now owns 3,477 shares of the company’s stock valued at $274,000 after acquiring an additional 147 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in UL Solutions by 4.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock worth $304,000 after buying an additional 159 shares during the period. Daiwa Securities Group Inc. lifted its holdings in UL Solutions by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,155 shares of the company’s stock worth $1,195,000 after buying an additional 194 shares during the period. Deutsche Bank AG grew its position in shares of UL Solutions by 6.0% in the 4th quarter. Deutsche Bank AG now owns 3,677 shares of the company’s stock valued at $290,000 after buying an additional 207 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position 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 last quarter.

Analysts Set New Price Targets

ULS has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of UL Solutions in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Finally, BNP Paribas Exane started coverage on shares of UL Solutions in a research note on Monday, April 20th. They set a “neutral” rating and a $95.00 target price for the company. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

Insider Buying and Selling

In other news, insider Gitte Schjotz sold 9,865 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $96.98, for a total transaction of $956,707.70. Following the transaction, the insider directly owned 59,341 shares of the company’s stock, valued at $5,754,890.18. This represents a 14.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Karen K. Pepping sold 725 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value of $70,861.50. Following the transaction, the chief accounting officer directly owned 8,082 shares in the company, valued at $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,705 shares of company stock worth $6,460,300 over the last 90 days. 1.20% of the stock is owned by company insiders.

UL Solutions Stock Up 0.2%

UL Solutions stock opened at $85.60 on Monday. The company has a market capitalization of $17.25 billion, a PE ratio of 50.06, a PEG ratio of 3.27 and a beta of 0.63. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The firm’s fifty day moving average is $94.57 and its 200 day moving average is $86.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $748.50 million. During the same period last year, the company posted $0.37 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts predict that UL Solutions Inc. will post 2.13 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio is 33.92%.

UL Solutions Company 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.