Arrow Capital Management LLC Invests $5.77 Million in UL Solutions Inc. $ULS

Key Points

• Arrow Capital Management opened a new stake in UL Solutions during the fourth quarter, buying 73,206 shares valued at about $5.77 million. The position makes ULS its 12th-largest holding and 3.4% of its portfolio.
• UL Solutions reported strong quarterly results, with EPS of $0.50 beating estimates of $0.42 and revenue of $758 million topping expectations. Revenue also rose 7.5% year over year.
• The company paid a quarterly dividend of $0.145 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $101.54.

Arrow Capital Management LLC bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 73,206 shares of the company's stock, valued at approximately $5,773,000. UL Solutions accounts for 3.4% of Arrow Capital Management LLC's investment portfolio, making the stock its 12th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. acquired a new stake in shares of UL Solutions in the third quarter worth $40,000. Northwestern Mutual Wealth Management Co. increased its holdings in UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock valued at $46,000 after purchasing an additional 614 shares in the last quarter. Rhumbline Advisers purchased a new position in UL Solutions in the first quarter valued at about $49,000. PNC Financial Services Group Inc. raised its position in UL Solutions by 18.2% in the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company's stock valued at $61,000 after purchasing an additional 133 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company's stock worth $71,000 after purchasing an additional 479 shares in the last quarter.

UL Solutions Stock Down 3.0%

Shares of NYSE ULS opened at $91.27 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The stock's 50-day simple moving average is $95.64 and its 200-day simple moving average is $84.90. The firm has a market cap of $18.40 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 3.66 and a beta of 0.63.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.08. The firm had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.UL Solutions's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, equities analysts anticipate that UL Solutions Inc. will post 2.1 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, May 29th. UL Solutions's dividend payout ratio is 33.92%.

Insider Activity at UL Solutions

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $91.57, for a total value of $1,144,625.00. Following the completion of the sale, the chief executive officer directly owned 188,274 shares in the company, valued at approximately $17,240,250.18. The trade was a 6.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gitte Schjotz sold 12,015 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total value of $1,198,015.65. Following the sale, the insider directly owned 69,206 shares in the company, valued at approximately $6,900,530.26. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,705 shares of company stock worth $6,288,800 over the last 90 days. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ULS shares. JPMorgan Chase & Co. upped their target price on UL Solutions from $88.00 to $108.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Raymond James Financial reissued an "outperform" rating and set a $115.00 price target on shares of UL Solutions in a research report on Wednesday, May 6th. UBS Group upped their price target on UL Solutions from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Zacks Research raised shares of UL Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Finally, Wall Street Zen raised shares of UL Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, UL Solutions presently has an average rating of "Moderate Buy" and a consensus target price of $101.54.

About UL Solutions

UL Solutions NYSE: ULS is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters' Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company's core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.

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