Allianz Asset Management GmbH Invests $9.01 Million 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 position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 159,754 shares of the company's stock, valued at approximately $9,010,000. Allianz Asset Management GmbH owned about 0.08% of UL Solutions at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ULS. Thrivent Financial for Lutherans bought a new position in shares of UL Solutions during the fourth quarter worth about $677,000. American Century Companies Inc. raised its position in shares of UL Solutions by 38.0% during the fourth quarter. American Century Companies Inc. now owns 425,307 shares of the company's stock worth $21,214,000 after acquiring an additional 117,176 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of UL Solutions during the fourth quarter worth about $604,000. Vanguard Group Inc. raised its position in shares of UL Solutions by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after acquiring an additional 401,492 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of UL Solutions during the 4th quarter valued at about $173,869,000.

Wall Street Analyst Weigh In

ULS has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Robert W. Baird raised their price target on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group lifted their price target on shares of UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial upped their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $69.43.

UL Solutions Stock Down 0.5%

Shares of NYSE:ULS opened at $70.28 on Friday. The business's 50 day simple moving average is $71.14 and its two-hundred day simple moving average is $61.14. The firm has a market cap of $14.09 billion, a P/E ratio of 42.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.24. UL Solutions Inc. has a 52-week low of $44.84 and a 52-week high of $73.98.

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

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.74%. UL Solutions's dividend payout ratio is presently 31.14%.

Insider Buying and Selling

In other news, EVP Alberto Uggetti sold 1,961 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president owned 9,285 shares in the company, valued at $649,950. This trade represents a 17.44% 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 hyperlink. Also, insider Gitte Schjotz sold 7,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the sale, the insider owned 46,889 shares of the company's stock, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

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.

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