William Blair Investment Management LLC reduced its stake in shares of UL Solutions Inc. (NYSE:ULS – Free Report) by 6.5% during the 4th quarter, HoldingsChannel reports. The fund owned 376,039 shares of the company’s stock after selling 26,171 shares during the period. William Blair Investment Management LLC’s holdings in UL Solutions were worth $29,654,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ULS. Royal Bank of Canada increased its stake 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. increased its stake in UL Solutions by 104.3% during the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $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 increased its stake in UL Solutions by 11.9% during 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 worth $6,981,000 after acquiring an additional 13,205 shares during the last quarter. Rhumbline Advisers bought a new stake in UL Solutions during the first quarter worth approximately $49,000. Finally, Creative Planning bought a new stake in UL Solutions during the second quarter worth approximately $208,000.
UL Solutions Stock Up 0.0%
Shares of NYSE ULS opened at $102.87 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $20.73 billion, a price-to-earnings ratio of 60.16, a PEG ratio of 4.00 and a beta of 0.59. The stock has a 50 day moving average price of $90.49 and a 200 day moving average price of $83.45. UL Solutions Inc. has a 52-week low of $61.64 and a 52-week high of $107.54.
UL Solutions Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.145 per share. The ex-dividend date is Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. UL Solutions’s dividend payout ratio is currently 33.92%.
Insider Buying and Selling
In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the completion of the sale, the chief executive officer owned 188,274 shares in the company, valued at approximately $17,240,250.18. This represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gitte Schjotz sold 8,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $103.96, for a total value of $831,680.00. Following the sale, the insider owned 81,221 shares of the company’s stock, valued at approximately $8,443,735.16. This represents a 8.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 43,100 shares of company stock worth $4,063,215 in the last three months. Corporate insiders own 1.20% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on ULS. Robert W. Baird reduced their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. BNP Paribas Exane initiated coverage on UL Solutions in a research note on Monday, April 20th. They set a “neutral” rating and a $95.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $115.00 target price on shares of UL Solutions in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.54.
Read Our Latest Analysis on ULS
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.
Further Reading
- Five stocks we like better than UL Solutions
- The Smart Glasses Gold Rush Is Leaving Old-School Eyewear Behind
- 3 Rare Earth Stocks That Win No Matter What China Does Next
- Amylyx Stock: Why the Full Pipeline Story Matters
- Palantir and Dell Build an AI OS for the Paranoid
Want to see what other hedge funds are holding ULS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UL Solutions Inc. (NYSE:ULS – Free Report).
Receive News & Ratings for UL Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UL Solutions and related companies with MarketBeat.com's FREE daily email newsletter.
