Bessemer Group Inc. grew its position in UL Solutions Inc. (NYSE:ULS – Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,265,772 shares of the company’s stock after buying an additional 44,103 shares during the quarter. Bessemer Group Inc. owned 1.13% of UL Solutions worth $194,199,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of ULS. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions during the first quarter worth about $49,000. CIBC Private Wealth Group LLC lifted its position in shares of UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock worth $71,000 after purchasing an additional 479 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of UL Solutions by 60.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $109,000 after purchasing an additional 519 shares during the period. Finally, US Bancorp DE grew its holdings in shares of UL Solutions by 253.9% in the third quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $113,000 after purchasing an additional 1,145 shares in the last quarter.
Analyst Ratings Changes
ULS has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and issued a $115.00 price objective on shares of UL Solutions in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.54.
UL Solutions Trading Up 2.3%
NYSE:ULS opened at $89.77 on Friday. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The stock has a market cap of $18.09 billion, a P/E ratio of 52.50, a P/E/G ratio of 3.41 and a beta of 0.63. 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 stock has a 50-day simple moving average of $96.10 and a 200-day simple moving average of $86.73.
UL Solutions (NYSE:ULS – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. As a group, analysts anticipate that UL Solutions Inc. will post 2.1 earnings per share 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 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, May 29th. UL Solutions’s payout ratio is currently 33.92%.
Insider Buying and Selling at UL Solutions
In related news, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $100.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president directly owned 10,307 shares of the company’s stock, valued at $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Friedrich Hecker sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $102.04, for a total value of $408,160.00. Following the transaction, the director directly owned 13,180 shares in the company, valued at approximately $1,344,887.20. The trade was a 23.28% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 65,705 shares of company stock worth $6,460,300. 1.20% of the stock is owned by 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.
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