Legal & General Group Plc Boosts Stock Position in UL Solutions Inc. $ULS

Key Points

• Legal & General Group Plc increased its UL Solutions stake by 78.6% in the fourth quarter, ending with 103,331 shares valued at about $8.15 million.
• UL Solutions reported better-than-expected quarterly results, posting EPS of $0.50 versus $0.42 expected and revenue of $758 million, with revenue up 7.5% year over year.
• Insiders have been selling shares, including recent sales by an EVP and a director, while analysts currently rate the stock a Moderate Buy with an average price target of $101.54.

Legal & General Group Plc boosted its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 78.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,331 shares of the company's stock after purchasing an additional 45,467 shares during the period. Legal & General Group Plc owned about 0.05% of UL Solutions worth $8,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. purchased a new position in UL Solutions in the third quarter worth $40,000. Northwestern Mutual Wealth Management Co. boosted its position in UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock worth $46,000 after purchasing an additional 614 shares during the last quarter. Rhumbline Advisers purchased a new position in UL Solutions in the first quarter worth $49,000. PNC Financial Services Group Inc. boosted its position in UL Solutions by 18.2% in the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company's stock worth $61,000 after purchasing an additional 133 shares during the last quarter. Finally, US Bancorp DE boosted its position in UL Solutions by 253.9% in the third quarter. US Bancorp DE now owns 1,596 shares of the company's stock worth $113,000 after purchasing an additional 1,145 shares during the last quarter.

Insider Transactions at UL Solutions

In other news, EVP Alberto Uggetti sold 6,100 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the completion of the transaction, the executive vice president directly owned 10,307 shares in the company, valued at approximately $1,030,700. This represents a 37.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Friedrich Hecker sold 4,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $102.04, for a total value of $408,160.00. Following the sale, the director owned 13,180 shares of the company's stock, valued at $1,344,887.20. This represents a 23.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,980 shares of company stock valued at $6,217,938 over the last quarter. 1.20% of the stock is owned by company insiders.

UL Solutions Stock Performance

NYSE:ULS opened at $96.80 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. UL Solutions Inc. has a 52-week low of $61.64 and a 52-week high of $107.54. The firm has a market cap of $19.51 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 3.86 and a beta of 0.63. The business's fifty day moving average is $93.40 and its 200 day moving average is $84.39.

UL Solutions (NYSE:ULS - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.08. The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. Research analysts predict that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Friday, May 29th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, May 29th. UL Solutions's dividend payout ratio is currently 33.92%.

Analyst Ratings Changes

A number of research analysts have recently commented on ULS shares. Zacks Research raised UL Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Citigroup upped their price target on UL Solutions from $87.80 to $106.40 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Robert W. Baird dropped their price target on UL Solutions from $97.00 to $96.00 and set an "outperform" rating on the stock in a research report on Friday, February 20th. Weiss Ratings raised UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 8th. Finally, UBS Group upped their price target on UL Solutions from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $101.54.

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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