New York State Teachers Retirement System Makes New $1.88 Million Investment in UL Solutions Inc. $ULS

Key Points

• New York State Teachers Retirement System opened a new position in UL Solutions, buying 23,797 shares valued at about $1.88 million in the fourth quarter.
• UL Solutions reported better-than-expected quarterly results, with EPS of $0.50 versus $0.42 expected and revenue of $758 million, up 7.5% year over year.
• The stock has seen mixed signals: analysts are moderately bullish overall with a consensus price target of $101.54, while CEO Jennifer F. Scanlon recently sold 12,500 shares.

New York State Teachers Retirement System acquired a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 23,797 shares of the company's stock, valued at approximately $1,877,000.

Several other large investors have also recently made changes to their positions in the business. Assetmark Inc. purchased a new position in shares of UL Solutions in the 3rd quarter worth about $40,000. Northwestern Mutual Wealth Management Co. raised 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 acquiring an additional 614 shares during the period. PNC Financial Services Group Inc. raised 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 acquiring an additional 133 shares during the period. Rhumbline Advisers purchased a new position in UL Solutions in the first quarter valued at about $49,000. Finally, Farther Finance Advisors LLC grew its position in shares of UL Solutions by 3,720.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,299 shares of the company's stock valued at $92,000 after acquiring an additional 1,265 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings cut shares of UL Solutions from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, February 20th. Wells Fargo & Company increased their price objective on UL Solutions from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday. Telsey Advisory Group set a $100.00 target price on UL Solutions in a research report on Wednesday. Zacks Research upgraded UL Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Finally, BNP Paribas Exane initiated coverage on UL Solutions in a research report on Monday, April 20th. They set a "neutral" rating and a $95.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.54.

Insiders Place Their Bets

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the sale, the chief executive officer directly 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. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

UL Solutions Trading Up 1.1%

NYSE:ULS opened at $100.47 on Friday. The company has a market cap of $20.20 billion, a P/E ratio of 58.75, a P/E/G ratio of 4.02 and a beta of 0.59. The stock's fifty day moving average price is $86.62 and its two-hundred day moving average price is $81.81. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.32.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share 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 company had revenue of $758.00 million during the quarter, compared to analysts' expectations of $748.50 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, analysts expect that UL Solutions Inc. will post 2.02 EPS for the current year.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd were paid a $0.145 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.58 annualized dividend and a yield of 0.6%. This is an increase from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio is 33.92%.

About UL Solutions

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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