Connecticut Wealth Management LLC Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Connecticut Wealth Management LLC acquired a new position in UL Solutions Inc. (NYSE:ULS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,200 shares of the company's stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ULS. Norges Bank purchased a new stake in shares of UL Solutions in the fourth quarter worth $173,869,000. T. Rowe Price Investment Management Inc. raised its position in shares of UL Solutions by 88.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock worth $210,729,000 after buying an additional 1,987,295 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of UL Solutions by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock worth $222,658,000 after buying an additional 1,022,851 shares in the last quarter. Capital International Investors raised its position in UL Solutions by 7.4% during the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company's stock valued at $583,324,000 after purchasing an additional 809,779 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in UL Solutions during the fourth quarter valued at about $32,091,000.

UL Solutions Stock Down 0.8%

Shares of NYSE:ULS opened at $70.97 on Friday. The stock's 50-day moving average price is $59.66 and its 200-day moving average price is $54.84. UL Solutions Inc. has a 12-month low of $37.87 and a 12-month high of $72.81. The stock has a market capitalization of $14.21 billion and a P/E ratio of 43.81. 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 announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $705.00 million for the quarter, compared to analysts' expectations of $704.19 million. UL Solutions's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.73%. UL Solutions's dividend payout ratio (DPR) is currently 31.14%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Robert W. Baird raised their price target on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Wells Fargo & Company raised their price target on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Citigroup restated a "neutral" rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, UL Solutions currently has an average rating of "Hold" and a consensus target price of $69.43.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $492,105. This trade represents a 17.27% 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 7,000 shares of the firm's stock in a transaction dated 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 in the company, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 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.

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