Ameriprise Financial Inc. Grows Position in UL Solutions Inc. (NYSE:ULS)

Ameriprise Financial Inc. lifted its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,579 shares of the company's stock after acquiring an additional 3,929 shares during the period. Ameriprise Financial Inc. owned approximately 0.06% of UL Solutions worth $6,214,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP bought a new position in shares of UL Solutions in the fourth quarter worth about $32,000. PNC Financial Services Group Inc. increased its stake in shares of UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after buying an additional 582 shares during the period. Northwest & Ethical Investments L.P. increased its stake in shares of UL Solutions by 23.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after buying an additional 400 shares during the period. KBC Group NV acquired a new position in shares of UL Solutions in the fourth quarter valued at approximately $163,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of UL Solutions in the fourth quarter valued at approximately $201,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Robert W. Baird increased their target price on shares of UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price objective 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. UBS Group increased their target price on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Citigroup reiterated a "neutral" rating and issued a $71.00 target price (up from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, UL Solutions has an average rating of "Hold" and a consensus target price of $69.43.

UL Solutions Stock Performance

Shares of NYSE ULS traded down $0.64 during mid-day trading on Thursday, reaching $70.96. 349,158 shares of the company's stock were exchanged, compared to its average volume of 754,400. The firm has a market capitalization of $14.20 billion and a price-to-earnings ratio of 43.80. UL Solutions Inc. has a 52 week low of $37.87 and a 52 week high of $72.81. 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 firm has a 50-day moving average price of $61.48 and a two-hundred day moving average price of $55.55.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $705.00 million for the quarter, compared to analysts' expectations of $704.19 million. UL Solutions's quarterly revenue was up 5.2% compared to the same quarter last year. Analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, May 30th. UL Solutions's dividend payout ratio is currently 31.14%.

Insider Activity at UL Solutions

In other news, insider Gitte Schjotz sold 7,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the transaction, the insider now owns 46,889 shares of the company's stock, valued at approximately $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $492,105. The trade was a 17.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,899 shares of company stock worth $712,064. Company insiders own 1.20% of the company's stock.

UL Solutions 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.