Bessemer Group Inc. Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Bessemer Group Inc. bought a new stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,429,393 shares of the company's stock, valued at approximately $80,618,000. Bessemer Group Inc. owned approximately 0.71% of UL Solutions at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ULS. Quarry LP purchased a new position in UL Solutions during the 4th quarter valued at about $32,000. PNC Financial Services Group Inc. increased its holdings in UL Solutions by 653.9% in 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. Rhumbline Advisers acquired a new position in UL Solutions in the first quarter worth approximately $49,000. Northwest & Ethical Investments L.P. increased its holdings in UL Solutions by 23.5% in 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. Finally, Signature Estate & Investment Advisors LLC acquired a new position in UL Solutions in the fourth quarter worth approximately $201,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup restated a "neutral" rating and issued a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Robert W. Baird increased their price objective on UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. 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 research report on Wednesday, May 7th. Raymond James Financial upped their target price on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their target price on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $69.43.

Insider Activity

In other news, insider Gitte Schjotz sold 7,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the sale, the insider now directly owns 46,889 shares of the company's stock, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were 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. 1.20% of the stock is owned by company insiders.

UL Solutions Stock Performance

UL Solutions stock traded up $0.02 during trading hours on Friday, reaching $72.19. 1,058,835 shares of the company were exchanged, compared to its average volume of 757,191. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 43.23 and a beta of 1.20. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $68.00 and a 200 day moving average of $58.32. UL Solutions Inc. has a 12 month low of $40.99 and a 12 month high of $73.98.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data 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. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The company had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. UL Solutions's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

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

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.