State of Alaska Department of Revenue Buys New Stake in UL Solutions Inc. $ULS

State of Alaska Department of Revenue purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,480 shares of the company’s stock, valued at approximately $589,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in 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 purchasing an additional 78,081 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of UL Solutions by 104.3% in the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $25,953,000 after buying an additional 234,913 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of UL Solutions by 11.9% in the first 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 buying an additional 13,205 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter valued at about $49,000. Finally, Creative Planning purchased a new stake in shares of UL Solutions during the 2nd quarter valued at about $208,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Robert W. Baird reduced their price target on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. BNP Paribas Exane started coverage on shares of UL Solutions in a research report on Monday. They set a “neutral” rating and a $95.00 target price on the stock. Bank of America upped their target price on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, UBS Group raised their price target on shares of UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.42.

UL Solutions Price Performance

Shares of NYSE ULS opened at $89.54 on Friday. UL Solutions Inc. has a fifty-two week low of $55.38 and a fifty-two week high of $94.04. The business has a 50 day moving average price of $83.60 and a two-hundred day moving average price of $80.61. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a market cap of $18.00 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 3.63 and a beta of 0.77.

UL Solutions (NYSE:ULS) last announced its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.UL Solutions’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. Sell-side analysts expect that UL Solutions Inc. will post 2.02 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were issued a $0.145 dividend. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. UL Solutions’s dividend payout ratio is currently 36.48%.

Insider Transactions at UL Solutions

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.50, for a total transaction of $1,068,750.00. Following the transaction, the chief executive officer directly owned 200,774 shares in the company, valued at $17,166,177. This represents a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.

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.