New Mexico Educational Retirement Board purchased a new position in UL Solutions Inc. (NYSE:ULS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,400 shares of the company's stock, valued at approximately $1,214,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in ULS. Royal Bank of Canada lifted its position in shares of UL Solutions by 119.5% in the first quarter. Royal Bank of Canada now owns 143,431 shares of the company's stock worth $8,090,000 after buying an additional 78,081 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of UL Solutions by 104.3% in the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company's stock worth $25,953,000 after buying an additional 234,913 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of UL Solutions by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company's stock worth $6,981,000 after buying an additional 13,205 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter worth about $49,000. Finally, Creative Planning acquired a new stake in shares of UL Solutions in the second quarter worth about $208,000.
Insider Transactions at UL Solutions
In related news, insider Gitte Schjotz sold 8,000 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $103.96, for a total transaction of $831,680.00. Following the transaction, the insider directly owned 81,221 shares in the company, valued at $8,443,735.16. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $91.57, for a total value of $1,144,625.00. Following the transaction, the chief executive officer owned 188,274 shares in the company, valued at $17,240,250.18. This represents a 6.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 43,100 shares of company stock valued at $4,063,215. 1.20% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of analysts have weighed in on ULS shares. JPMorgan Chase & Co. boosted their price target on UL Solutions from $88.00 to $108.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of UL Solutions in a research report on Wednesday, May 6th. UBS Group boosted their price target on UL Solutions from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Telsey Advisory Group set a $100.00 price target on UL Solutions in a research report on Wednesday, May 6th. Finally, Robert W. Baird dropped their price objective on UL Solutions from $97.00 to $96.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, UL Solutions has a consensus rating of "Moderate Buy" and an average price target of $101.54.
Check Out Our Latest Report on UL Solutions
UL Solutions Trading Down 2.1%
Shares of ULS opened at $97.84 on Wednesday. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 57.21, a P/E/G ratio of 3.89 and a beta of 0.63. The stock's 50-day moving average price is $92.41 and its 200 day moving average price is $84.05.
UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The firm had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. During the same period in the previous year, the company posted $0.37 earnings per share. The company's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current year.
UL Solutions Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Friday, May 29th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. UL Solutions's payout ratio is currently 33.92%.
UL Solutions Profile
(
Free Report)
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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