Bank of America Corp DE Buys 148,686 Shares of UL Solutions Inc. (NYSE:ULS)

Bank of America Corp DE boosted its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 225.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,714 shares of the company's stock after buying an additional 148,686 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of UL Solutions worth $10,710,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP acquired a new position in UL Solutions during the fourth quarter worth about $32,000. PNC Financial Services Group Inc. grew its holdings in shares of UL Solutions by 653.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after purchasing an additional 582 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in UL Solutions by 23.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock worth $105,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV acquired a new position in UL Solutions during the 4th quarter worth approximately $163,000. Finally, Sanctuary Advisors LLC bought a new position in UL Solutions in the 4th quarter valued at approximately $221,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ULS. 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. 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. Raymond James upped their target price on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. UBS Group increased their target price on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $69.43.

UL Solutions Trading Up 0.7%

NYSE:ULS traded up $0.51 during trading hours on Tuesday, hitting $72.30. 576,321 shares of the company were exchanged, compared to its average volume of 757,423. The stock has a market capitalization of $14.47 billion and a price-to-earnings ratio of 44.63. UL Solutions Inc. has a one year low of $37.87 and a one year high of $72.81. The company has a fifty day simple moving average of $60.39 and a 200 day simple moving average of $55.19. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.72%. UL Solutions's dividend payout ratio (DPR) is currently 31.14%.

Insider Activity

In other news, EVP Alberto Uggetti sold 1,961 shares of UL Solutions 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 transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at approximately $649,950. This trade represents a 17.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the insider now directly owns 46,889 shares in the company, valued at $3,162,194.16. This represents a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,899 shares of company stock valued at $712,064. 1.20% of the stock is currently owned by 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.