UL Solutions Inc. (NYSE:ULS) Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC raised its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 40.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,265 shares of the company's stock after purchasing an additional 5,570 shares during the quarter. Legato Capital Management LLC's holdings in UL Solutions were worth $1,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP acquired a new position in UL Solutions in the 4th quarter valued at about $32,000. PNC Financial Services Group Inc. boosted its holdings in UL Solutions by 653.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after purchasing an additional 582 shares during the last quarter. Rhumbline Advisers acquired a new position in UL Solutions in the 1st quarter valued at about $49,000. Signature Estate & Investment Advisors LLC acquired a new position in UL Solutions in the 4th quarter valued at about $201,000. Finally, Phillips Wealth Planners LLC acquired a new position in UL Solutions in the 1st quarter valued at about $226,000.

Insider Buying and Selling

In other news, insider Gitte Schjotz sold 7,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the sale, the insider directly owned 46,889 shares in the company, valued at approximately $3,162,194.16. This trade represents a 12.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alberto Uggetti sold 1,961 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $137,270.00. Following the completion of the sale, the executive vice president owned 9,285 shares in the company, valued at $649,950. The trade was a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ULS shares. Raymond James Financial upped their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. UBS Group upped 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 price objective (up from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Robert W. Baird upped 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. Finally, The Goldman Sachs Group upped their price objective on shares of UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, UL Solutions presently has an average rating of "Hold" and a consensus price target of $69.43.

UL Solutions Stock Down 0.5%

UL Solutions stock traded down $0.36 during mid-day trading on Friday, reaching $70.28. 229,051 shares of the company's stock were exchanged, compared to its average volume of 699,701. The company has a market cap of $14.09 billion, a P/E ratio of 42.08 and a beta of 1.02. UL Solutions Inc. has a twelve month low of $44.84 and a twelve month high of $73.98. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $71.14 and a 200-day moving average of $61.06.

UL Solutions (NYSE:ULS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $705.00 million for the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.74%. UL Solutions's dividend payout ratio (DPR) is presently 31.14%.

About UL Solutions

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.