JPMorgan Chase & Co. Has $252.33 Million Stock Position in UL Solutions Inc. (NYSE:ULS)

Key Points

• JPMorgan Chase & Co. increased its holdings in UL Solutions Inc. by 1.9%, purchasing an additional 82,261 shares during the first quarter, bringing its total ownership to approximately 4.47 million shares valued at $252.3 million.
• The company's recent earnings report revealed $0.52 earnings per share, surpassing analysts' expectations of $0.47, and a revenue increase of 6.3% year-over-year to $776 million.
• Equity analysts have set new price targets for UL Solutions, with JPMorgan increasing its target from $64 to $70, reflecting a consensus average target price of $70.86 as of the latest reports.

JPMorgan Chase & Co. grew its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,473,990 shares of the company's stock after purchasing an additional 82,261 shares during the period. JPMorgan Chase & Co. owned about 2.24% of UL Solutions worth $252,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital International Investors lifted its stake in UL Solutions by 7.4% in the 4th 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 during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in UL Solutions by 88.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock valued at $210,729,000 after purchasing an additional 1,987,295 shares during the last quarter. Janus Henderson Group PLC lifted its stake in UL Solutions by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,389,077 shares of the company's stock valued at $119,164,000 after purchasing an additional 81,426 shares during the last quarter. Bessemer Group Inc. bought a new position in UL Solutions in the 1st quarter valued at approximately $80,618,000. Finally, Conestoga Capital Advisors LLC lifted its stake in UL Solutions by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 710,302 shares of the company's stock valued at $40,061,000 after purchasing an additional 4,367 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on ULS. JPMorgan Chase & Co. raised their price target on shares of UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Wells Fargo & Company raised their price target 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. The Goldman Sachs Group raised their price target 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. Raymond James Financial raised their price target on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird increased their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research report 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 stock. Based on data from MarketBeat.com, UL Solutions presently has a consensus rating of "Hold" and a consensus price target of $70.86.

UL Solutions Stock Up 0.5%

NYSE:ULS traded up $0.33 during trading hours on Friday, reaching $67.17. The company had a trading volume of 927,643 shares, compared to its average volume of 1,009,104. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 41.46 and a beta of 1.00. The business's 50-day simple moving average is $70.38 and its two-hundred day simple moving average is $62.84. UL Solutions Inc. has a twelve month low of $46.79 and a twelve month high of $74.15.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. The business had revenue of $776.00 million during the quarter, compared to analysts' expectations of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. On average, equities analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 30th. UL Solutions's dividend payout ratio (DPR) is currently 32.10%.

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.