Envestnet Asset Management Inc. Boosts Stake in UL Solutions Inc. (NYSE:ULS)

Envestnet Asset Management Inc. boosted its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,985 shares of the company's stock after purchasing an additional 31,270 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of UL Solutions worth $8,429,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in UL Solutions by 653.9% during the 4th 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% during the fourth 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 during the last quarter. KBC Group NV purchased a new stake in UL Solutions during the fourth quarter valued at about $163,000. Sanctuary Advisors LLC acquired a new position in shares of UL Solutions in the 4th quarter valued at about $221,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in UL Solutions during the 4th quarter worth approximately $201,000.

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the transaction, the executive vice president now owns 9,285 shares in the company, valued at $492,105. The trade was a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company's stock.

UL Solutions Trading Up 1.5 %

UL Solutions stock traded up $0.85 during mid-day trading on Thursday, hitting $57.37. The company's stock had a trading volume of 160,805 shares, compared to its average volume of 704,936. 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 stock has a market cap of $11.48 billion and a price-to-earnings ratio of 35.35. The business has a 50 day moving average price of $54.21 and a 200-day moving average price of $52.90. UL Solutions Inc. has a 12 month low of $33.50 and a 12 month high of $59.23.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm 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%. As a group, analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio is 32.10%.

Analyst Upgrades and Downgrades

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

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.