Public Employees Retirement System of Ohio purchased a new position in UL Solutions Inc. (NYSE:ULS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,838 shares of the company’s stock, valued at approximately $2,428,000.
Other institutional investors also recently bought and sold shares of the company. Ghisallo Capital Management LLC lifted its stake in shares of UL Solutions by 1,299.3% in the fourth quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company’s stock worth $110,347,000 after buying an additional 1,299,273 shares in the last quarter. State Street Corp raised its holdings in UL Solutions by 272.1% in the 4th quarter. State Street Corp now owns 1,460,723 shares of the company’s stock worth $115,193,000 after acquiring an additional 1,068,194 shares during the last quarter. Norges Bank bought a new position in UL Solutions in the 4th quarter valued at approximately $72,719,000. Alyeska Investment Group L.P. bought a new position in UL Solutions in the 4th quarter valued at approximately $69,002,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in UL Solutions by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock valued at $463,618,000 after purchasing an additional 545,528 shares during the last quarter.
UL Solutions Trading Down 1.1%
Shares of NYSE:ULS opened at $73.84 on Friday. The stock’s 50-day simple moving average is $83.46 and its two-hundred day simple moving average is $87.82. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 3.06 and a beta of 0.63. UL Solutions Inc. has a 52-week low of $61.64 and a 52-week high of $107.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.
UL Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. UL Solutions’s dividend payout ratio is currently 23.48%.
Insiders Place Their Bets
In other UL Solutions news, CAO Karen K. Pepping sold 725 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total transaction of $70,861.50. Following the completion of the sale, the chief accounting officer directly owned 8,082 shares of the company’s stock, valued at $789,934.68. This trade represents a 8.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer F. Scanlon sold 12,500 shares of UL Solutions stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $73.66, for a total value of $920,750.00. Following the completion of the sale, the chief executive officer directly owned 139,224 shares in the company, valued at $10,255,239.84. This trade represents a 8.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 38,225 shares of company stock worth $3,382,862. 1.20% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
ULS has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on UL Solutions from $120.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings raised UL Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Zacks Research cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a report on Wednesday, August 5th. Finally, UBS Group reduced their price target on shares of UL Solutions from $110.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.78.
Get Our Latest Report on UL Solutions
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.
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