Illinois Municipal Retirement Fund boosted its position in shares of UL Solutions Inc. (NYSE:ULS – Free Report) by 75.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,464 shares of the company’s stock after purchasing an additional 15,716 shares during the period. Illinois Municipal Retirement Fund’s holdings in UL Solutions were worth $3,125,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of UL Solutions during the first quarter valued at $49,000. CIBC Private Wealth Group LLC raised its position in UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after buying an additional 479 shares during the period. PNC Financial Services Group Inc. raised its position in UL Solutions by 60.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $109,000 after buying an additional 519 shares during the period. Finally, US Bancorp DE lifted its stake in UL Solutions by 253.9% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock worth $113,000 after acquiring an additional 1,145 shares in the last quarter.
UL Solutions Trading Up 0.0%
NYSE:ULS opened at $87.77 on Monday. The stock’s 50 day moving average price is $95.84 and its 200 day moving average price is $86.78. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54. The company has a market capitalization of $17.69 billion, a P/E ratio of 51.33, 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.
UL Solutions Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a dividend of $0.145 per share. The ex-dividend date was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is currently 33.92%.
Analyst Ratings Changes
ULS has been the topic of several research analyst reports. Telsey Advisory Group set a $100.00 target price on UL Solutions in a research note on Wednesday, May 6th. Wall Street Zen raised shares of UL Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wells Fargo & Company increased their price target on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. UBS Group upgraded shares of UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.54.
Check Out Our Latest Stock Analysis on UL Solutions
Insiders Place Their Bets
In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the transaction, the chief executive officer directly owned 164,224 shares in the company, valued at $16,294,305.28. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Karen K. Pepping sold 725 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value 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 represents a 8.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,705 shares of company stock worth $6,460,300 in the last 90 days. 1.20% of the stock is owned by corporate insiders.
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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