UL Solutions Inc. (NYSE:ULS) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 36.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 666,932 shares of the company's stock after selling 389,461 shares during the period. Millennium Management LLC owned 0.33% of UL Solutions worth $33,267,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in UL Solutions by 7.4% in the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company's stock valued at $583,324,000 after acquiring an additional 809,779 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock valued at $278,016,000 after purchasing an additional 401,492 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after purchasing an additional 1,022,851 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in UL Solutions by 88.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock worth $210,729,000 after buying an additional 1,987,295 shares during the last quarter. Finally, FMR LLC increased its position in UL Solutions by 17.2% during the fourth quarter. FMR LLC now owns 4,178,072 shares of the company's stock worth $208,402,000 after buying an additional 612,834 shares during the period.

UL Solutions Stock Performance

NYSE:ULS traded down $0.57 during midday trading on Thursday, reaching $70.97. The stock had a trading volume of 404,030 shares, compared to its average volume of 761,238. 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 stock has a market cap of $14.21 billion and a P/E ratio of 43.81. The firm has a fifty day simple moving average of $59.29 and a two-hundred day simple moving average of $54.71. UL Solutions Inc. has a 12-month low of $37.87 and a 12-month high of $72.81.

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, topping 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 company had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, May 30th. UL Solutions's dividend payout ratio is presently 31.14%.

Insiders Place Their Bets

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the sale, the insider now owns 46,889 shares of the company's stock, valued at approximately $3,162,194.16. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $70.00, for a total transaction of $137,270.00. Following the transaction, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $649,950. This trade represents a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,899 shares of company stock worth $712,064. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ULS shares. The Goldman Sachs Group boosted their price objective on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price target on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. UBS Group increased their price target on shares of UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Raymond James lifted their price objective 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 target price on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $69.43.

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.