UL Solutions Inc. (NYSE:ULS) Holdings Lifted by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in UL Solutions Inc. to 657,200 shares, worth approximately $37.07 million, following a 1.9% rise in their position during the first quarter.
• Analysts are optimistic about UL Solutions, with several firms raising their price targets; Wells Fargo increased its target from $65.00 to $77.00 while UBS raised their target from $58.00 to $72.00.
• UL Solutions recently announced a quarterly dividend of $0.13 per share, yielding 0.71%, with a dividend payout ratio of 31.14%.

Federated Hermes Inc. grew its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 657,200 shares of the company's stock after buying an additional 12,400 shares during the period. Federated Hermes Inc. owned 0.33% of UL Solutions worth $37,066,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC purchased a new stake in UL Solutions during the 1st quarter worth $227,000. Vanguard Group Inc. lifted its holdings in UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after buying an additional 401,492 shares in the last quarter. Fifth Third Bancorp lifted its holdings in UL Solutions by 75.3% in the 1st quarter. Fifth Third Bancorp now owns 9,795 shares of the company's stock worth $552,000 after buying an additional 4,206 shares in the last quarter. SG Americas Securities LLC acquired a new position in UL Solutions in the 1st quarter worth $417,000. Finally, Vest Financial LLC acquired a new position in UL Solutions in the 1st quarter worth $881,000.

Insider Transactions at UL Solutions

In related news, insider Gitte Schjotz sold 7,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 46,889 shares of the company's stock, valued at $3,162,194.16. This represents a 12.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $137,270.00. Following the sale, the executive vice president directly owned 9,285 shares of the company's stock, valued at approximately $649,950. This represents a 17.44% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

UL Solutions Stock Down 1.6%

Shares of UL Solutions stock traded down $1.14 during trading on Friday, reaching $71.98. The company had a trading volume of 1,092,718 shares, compared to its average volume of 554,098. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 43.10 and a beta of 1.01. The firm's fifty day moving average is $71.18 and its 200-day moving average is $61.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.24. UL Solutions Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $74.15.

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 for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The business had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. The company's quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 30th. UL Solutions's dividend payout ratio is currently 31.14%.

Wall Street Analyst Weigh In

ULS has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a 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 stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group boosted their price objective on shares of UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group upped their target price 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently 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.