Bank of America Corp DE Raises Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Bank of America Corp DE lifted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 225.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 214,714 shares of the company's stock after acquiring an additional 148,686 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of UL Solutions worth $10,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ULS. Quarry LP acquired a new position in shares of UL Solutions during the 4th quarter worth approximately $32,000. PNC Financial Services Group Inc. increased its holdings in UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after buying an additional 582 shares during the last quarter. Northwest & Ethical Investments L.P. increased its holdings in 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 buying an additional 400 shares during the last quarter. KBC Group NV bought a new stake in UL Solutions during the fourth quarter worth $163,000. Finally, Sanctuary Advisors LLC acquired a new stake in UL Solutions in the fourth quarter valued at $221,000.

UL Solutions Trading Down 0.9%

Shares of ULS stock traded down $0.64 during mid-day trading on Thursday, hitting $70.96. The company's stock had a trading volume of 349,158 shares, compared to its average volume of 754,400. 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 quick ratio of 1.31 and a current ratio of 1.31. The company's fifty day simple moving average is $61.48 and its 200-day simple moving average is $55.55. The company has a market cap of $14.20 billion and a PE ratio of 43.80.

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

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. UL Solutions's dividend payout ratio (DPR) is presently 31.14%.

Insider Transactions at UL Solutions

In other news, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the sale, the insider now directly owns 46,889 shares in the company, valued at $3,162,194.16. The trade was a 12.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $649,950. This represents a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,899 shares of company stock valued at $712,064 over the last three months. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ULS shares. The Goldman Sachs Group boosted their target price on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group upped their price target on shares of UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price objective on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Citigroup reaffirmed a "neutral" rating and set a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, Raymond James raised 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. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $69.43.

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.