Bessemer Group Inc. Raises Position in UL Solutions Inc. $ULS

Key Points

• Bessemer Group Inc. increased its stake in UL Solutions by 3.3% in the fourth quarter, adding 70,279 shares to bring its total holdings to 2.22 million shares worth about $175.2 million.
• UL Solutions reported better-than-expected first-quarter results, with EPS of $0.50 versus estimates of $0.42 and revenue of $758 million versus $748.5 million expected. Revenue rose 7.5% year over year.
• The company raised its quarterly dividend to $0.145 per share from $0.13, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $101.54.

Bessemer Group Inc. boosted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,221,669 shares of the company's stock after purchasing an additional 70,279 shares during the quarter. Bessemer Group Inc. owned about 1.11% of UL Solutions worth $175,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ULS. Assetmark Inc. purchased a new position in UL Solutions in the 3rd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. grew its stake 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 worth $46,000 after buying an additional 614 shares in the last quarter. Rhumbline Advisers purchased a new position in UL Solutions in the 1st quarter worth approximately $49,000. PNC Financial Services Group Inc. grew its stake in UL Solutions by 18.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company's stock worth $61,000 after buying an additional 133 shares in the last quarter. Finally, US Bancorp DE grew its stake in UL Solutions by 253.9% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company's stock worth $113,000 after buying an additional 1,145 shares in the last quarter.

UL Solutions Stock Up 1.6%

NYSE ULS opened at $100.37 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $20.23 billion, a PE ratio of 58.70, a PEG ratio of 3.84 and a beta of 0.59. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The business's 50-day moving average is $88.20 and its 200 day moving average is $82.55.

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

UL Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were paid a $0.145 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. UL Solutions's payout ratio is 33.92%.

Wall Street Analyst Weigh In

ULS has been the topic of a number of research reports. Robert W. Baird lowered their price target on UL Solutions from $97.00 to $96.00 and set an "outperform" rating on the stock in a research report on Friday, February 20th. Bank of America raised their price target on UL Solutions to $86.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 8th. Telsey Advisory Group set a $100.00 price target on UL Solutions in a research report on Wednesday, May 6th. Finally, BNP Paribas Exane initiated coverage on UL Solutions in a research report on Monday, April 20th. They set a "neutral" rating and a $95.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $101.54.

Insider Buying and Selling

In related news, EVP Alberto Uggetti sold 6,100 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the sale, the executive vice president directly owned 10,307 shares of the company's stock, valued at $1,030,700. This trade represents a 37.18% 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 link. Also, insider Gitte Schjotz sold 8,000 shares of UL Solutions stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $103.96, for a total value of $831,680.00. Following the sale, the insider directly owned 81,221 shares in the company, valued at approximately $8,443,735.16. The trade was a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 39,100 shares of company stock valued at $3,655,055 over the last ninety days. 1.20% of the stock is owned by insiders.

UL Solutions Company Profile

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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