Capital Research Global Investors Decreases Stock Position in UL Solutions Inc. (NYSE:ULS)

Capital Research Global Investors reduced its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,890,769 shares of the company's stock after selling 9,231 shares during the quarter. Capital Research Global Investors owned about 0.94% of UL Solutions worth $94,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after acquiring an additional 582 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in shares of UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock worth $105,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV bought a new position in shares of UL Solutions during the 4th quarter valued at about $163,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of UL Solutions during the 4th quarter valued at about $201,000. Finally, Sanctuary Advisors LLC bought a new stake in UL Solutions in the 4th quarter worth approximately $221,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on ULS shares. JPMorgan Chase & Co. lifted their price target on shares of UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their target price on shares of UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. Finally, Citigroup upped their price target on shares of UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, UL Solutions currently has a consensus rating of "Moderate Buy" and an average target price of $51.45.

Insiders Place Their Bets

In related news, EVP Alberto Uggetti sold 1,938 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total transaction of $102,714.00. Following the completion of the transaction, the executive vice president now owns 9,285 shares of the company's stock, valued at $492,105. This trade represents a 17.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

UL Solutions Trading Down 0.6 %

NYSE:ULS traded down $0.35 during trading hours on Friday, hitting $57.53. The company had a trading volume of 807,209 shares, compared to its average volume of 709,809. The stock has a 50-day moving average price of $54.25 and a 200 day moving average price of $53.01. UL Solutions Inc. has a 52 week low of $33.50 and a 52 week high of $59.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $11.52 billion and a PE ratio of 35.51.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.11. The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, equities research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.90%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions's dividend payout ratio is presently 32.10%.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.