Bessemer Group Inc. Purchases Shares of 1,429,393 UL Solutions Inc. (NYSE:ULS)

Bessemer Group Inc. purchased a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,429,393 shares of the company's stock, valued at approximately $80,618,000. Bessemer Group Inc. owned about 0.71% of UL Solutions at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ULS. Quarry LP purchased a new position in shares of UL Solutions in the 4th quarter worth approximately $32,000. PNC Financial Services Group Inc. increased its position in shares of UL Solutions by 653.9% during 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. Rhumbline Advisers bought a new position in UL Solutions in the 1st quarter valued at $49,000. Northwest & Ethical Investments L.P. boosted its position in shares of UL Solutions by 23.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after acquiring an additional 400 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in UL Solutions during the fourth quarter worth about $201,000.

UL Solutions Stock Up 0.5%

Shares of NYSE ULS traded up $0.38 during trading on Friday, reaching $72.55. The company had a trading volume of 112,291 shares, compared to its average volume of 756,967. The business's 50-day moving average is $67.33 and its 200 day moving average is $57.95. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. The stock has a market cap of $14.55 billion, a PE ratio of 43.43 and a beta of 1.21. UL Solutions Inc. has a 12-month low of $39.86 and a 12-month high of $73.98.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

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

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total transaction 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 $649,950. The trade was a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gitte Schjotz sold 7,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now owns 46,889 shares in the company, valued at $3,162,194.16. This represents a 12.99% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ULS shares. Wells Fargo & Company boosted their target price on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Raymond James Financial increased their price target on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Robert W. Baird boosted their price objective 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. Citigroup reiterated a "neutral" rating and issued a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group upped 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $69.43.

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.