Allianz Asset Management GmbH Purchases New Position in UL Solutions Inc. (NYSE:ULS)

Key Points

• Allianz Asset Management GmbH has acquired approximately $9.01 million, or 159,754 shares, in UL Solutions Inc., indicating a growing interest in the company's stock among institutional investors.
• Multiple analysts have raised their price targets for UL Solutions, with Wells Fargo setting a new target of $77.00, reflecting increased confidence in the company's performance.
• UL Solutions has recently announced a quarterly dividend of $0.13 per share, indicating a commitment to returning value to shareholders despite a competitive market environment.

Allianz Asset Management GmbH acquired a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 159,754 shares of the company's stock, valued at approximately $9,010,000. Allianz Asset Management GmbH owned approximately 0.08% of UL Solutions at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of UL Solutions during the 4th quarter valued at $32,000. Rhumbline Advisers bought a new stake in shares of UL Solutions during the 1st quarter valued at $49,000. Phillips Wealth Planners LLC bought a new position in shares of UL Solutions in the 1st quarter valued at $226,000. Sowell Financial Services LLC acquired a new position in shares of UL Solutions during the 1st quarter worth $227,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of UL Solutions during the 4th quarter worth $332,000.

Insider Transactions at UL Solutions

In related news, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the sale, the executive vice president directly owned 9,285 shares of the company's stock, valued at $649,950. The trade was a 17.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gitte Schjotz sold 7,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the sale, the insider directly owned 46,889 shares of the company's stock, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ULS shares. UBS Group boosted their price target on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Raymond James Financial boosted their price target on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Robert W. Baird boosted their price objective on UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group boosted their price objective on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $69.43.

UL Solutions Trading Up 1.0%

NYSE ULS traded up $0.70 during trading hours on Wednesday, hitting $73.09. 781,983 shares of the company's stock were exchanged, compared to its average volume of 594,317. The stock has a 50-day simple moving average of $71.13 and a 200 day simple moving average of $61.52. UL Solutions Inc. has a 1-year low of $46.53 and a 1-year high of $73.98. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 43.77 and a beta of 1.02. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.66.

UL Solutions (NYSE:ULS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The business had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. The business's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were paid a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.71%. UL Solutions's dividend payout ratio is presently 31.14%.

About UL Solutions

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.