Connecticut Wealth Management LLC Purchases Shares of 10,200 UL Solutions Inc. (NYSE:ULS)

Connecticut Wealth Management LLC acquired a new position in UL Solutions Inc. (NYSE:ULS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,200 shares of the company's stock, valued at approximately $509,000.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of UL Solutions in the fourth quarter worth $32,000. PNC Financial Services Group Inc. increased its position in shares of 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 acquiring an additional 582 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of 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 acquiring an additional 400 shares in the last quarter. KBC Group NV purchased a new position in shares of UL Solutions in the fourth quarter valued at $163,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of UL Solutions in the fourth quarter valued at $221,000.

Insider Buying and Selling

In other news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the transaction, the executive vice president now 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 SEC, which can be accessed through this hyperlink. Also, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the transaction, the insider now directly owns 46,889 shares in the company, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,899 shares of company stock worth $712,064. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

ULS has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $71.00 target price (up from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upped their target price on shares of UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their price objective on shares of UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group increased their price objective on shares of UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $69.43.

UL Solutions Price Performance

UL Solutions stock traded down $0.69 during trading hours on Wednesday, hitting $71.72. 184,527 shares of the company traded hands, compared to its average volume of 755,177. The firm has a market cap of $14.36 billion and a P/E ratio of 44.27. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm's 50-day simple moving average is $60.77 and its two-hundred day simple moving average is $55.31. UL Solutions Inc. has a 1-year low of $37.87 and a 1-year high of $72.84.

UL Solutions (NYSE:ULS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The firm had revenue of $705.00 million for the quarter, compared to analysts' expectations of $704.19 million. The business's revenue was up 5.2% on a year-over-year basis. As a group, analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

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

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.