BI Asset Management Fondsmaeglerselskab A S Buys Shares of 22,125 UL Solutions Inc. $ULS

Key Points

• BI Asset Management Fondsmaeglerselskab A S opened a new position in UL Solutions during the first quarter, buying 22,125 shares worth about $1.9 million.
• UL Solutions posted strong quarterly results, with EPS of $0.50 beating estimates and revenue of $758 million topping expectations; revenue also rose 7.5% year over year.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $101.54, while the company also recently paid a quarterly dividend of $0.145 per share.

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,125 shares of the company's stock, valued at approximately $1,896,000.

A number of other large investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in shares of UL Solutions by 18.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company's stock valued at $61,000 after buying an additional 133 shares during the period. Advisor OS LLC grew its position in shares of UL Solutions by 4.4% during the 4th quarter. Advisor OS LLC now owns 3,477 shares of the company's stock valued at $274,000 after buying an additional 147 shares during the last quarter. Cresset Asset Management LLC raised its stake in UL Solutions by 4.0% during the second quarter. Cresset Asset Management LLC now owns 4,174 shares of the company's stock worth $304,000 after acquiring an additional 159 shares during the period. Daiwa Securities Group Inc. raised its stake in UL Solutions by 1.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 15,155 shares of the company's stock worth $1,195,000 after acquiring an additional 194 shares during the period. Finally, Deutsche Bank AG lifted its holdings in UL Solutions by 6.0% in the fourth quarter. Deutsche Bank AG now owns 3,677 shares of the company's stock worth $290,000 after acquiring an additional 207 shares during the last quarter.

Analyst Ratings Changes

ULS has been the subject of a number of research reports. Wall Street Zen upgraded UL Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. raised their price target on UL Solutions from $88.00 to $108.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Zacks Research upgraded UL Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. BNP Paribas Exane assumed coverage on UL Solutions in a research note on Monday, April 20th. They set a "neutral" rating and a $95.00 price objective for the company. Finally, Telsey Advisory Group set a $100.00 target price on UL Solutions in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $101.54.

UL Solutions Price Performance

NYSE ULS opened at $90.00 on Wednesday. The company has a 50-day moving average price of $95.97 and a two-hundred day moving average price of $84.99. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 3.49 and a beta of 0.63. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates 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%.The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. Analysts forecast that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were given a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, May 29th. UL Solutions's dividend payout ratio (DPR) is currently 33.92%.

Insider Activity

In other UL Solutions news, Director Friedrich Hecker sold 4,000 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $102.04, for a total transaction of $408,160.00. Following the completion of the transaction, the director owned 13,180 shares in the company, valued at approximately $1,344,887.20. The trade was a 23.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alberto Uggetti sold 6,100 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the transaction, the executive vice president owned 10,307 shares of the company's stock, valued at $1,030,700. This trade represents a 37.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,705 shares of company stock worth $6,288,800 over the last ninety days. 1.20% of the stock is currently owned by company 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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