Principal Financial Group Inc. increased its holdings in shares of UL Solutions Inc. (NYSE:ULS – Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 170,337 shares of the company’s stock after purchasing an additional 10,571 shares during the quarter. Principal Financial Group Inc.’s holdings in UL Solutions were worth $14,600,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake 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 buying an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 period. Rhumbline Advisers acquired a new stake in shares of UL Solutions during the first quarter worth $49,000. Finally, Creative Planning bought a new stake in UL Solutions in the 2nd quarter valued at $208,000.
UL Solutions Stock Performance
Shares of ULS opened at $86.62 on Friday. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of 50.65, a PEG ratio of 3.35 and a beta of 0.63. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The firm has a fifty day simple moving average of $94.84 and a 200 day simple moving average of $86.96. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.
UL Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.
Insider Buying and Selling at UL Solutions
In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 164,224 shares of the company’s stock, valued at approximately $16,294,305.28. This represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Friedrich Hecker sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $102.04, for a total value of $408,160.00. Following the completion of the transaction, the director owned 13,180 shares of the company’s stock, valued at approximately $1,344,887.20. This represents a 23.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,705 shares of company stock valued at $6,460,300 in the last ninety days. Insiders own 1.20% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. BNP Paribas Exane started coverage on shares of UL Solutions in a research note on Monday, April 20th. They issued a “neutral” rating and a $95.00 target price for the company. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their price target on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Citigroup upped their price objective on UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.54.
Get Our Latest Analysis on UL Solutions
UL Solutions 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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