Picton Mahoney Asset Management Raises Holdings in UL Solutions Inc. (NYSE:ULS)

Key Points

• Picton Mahoney Asset Management increased its stake in UL Solutions Inc. by 3.4%, owning a total of 118,617 shares valued at approximately $6.69 million.
• Insider Gitte Schjotz sold 7,000 shares for $472,080, reducing their stake by 12.99%, while EVP Alberto Uggetti also sold shares, indicating movements among company insiders.
• Analyst ratings for UL Solutions have become more favorable, with target prices raised by firms like Wells Fargo and Citigroup, reflecting increased investor interest and potential growth.

Picton Mahoney Asset Management boosted its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,617 shares of the company's stock after purchasing an additional 3,896 shares during the period. Picton Mahoney Asset Management owned about 0.06% of UL Solutions worth $6,689,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new position in shares of UL Solutions during the 4th quarter worth approximately $677,000. KLP Kapitalforvaltning AS purchased a new position in shares of UL Solutions during the 4th quarter worth approximately $604,000. Vanguard Group Inc. grew its stake 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 worth $278,016,000 after buying an additional 401,492 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of UL Solutions by 3.8% in the 4th quarter. Schroder Investment Management Group now owns 378,417 shares of the company's stock worth $18,981,000 after buying an additional 13,850 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of UL Solutions in the 4th quarter worth approximately $32,091,000.

Insiders Place Their Bets

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of the 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 owned 46,889 shares in the company, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the sale, the executive vice president owned 9,285 shares of the company's stock, valued at $649,950. The trade was a 17.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

UL Solutions Stock Performance

Shares of NYSE:ULS traded down $1.14 during midday trading on Friday, hitting $71.98. The company had a trading volume of 1,092,718 shares, compared to its average volume of 554,098. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 43.10 and a beta of 1.01. UL Solutions Inc. has a 12-month low of $46.79 and a 12-month high of $74.15. The company has a fifty day moving average of $71.18 and a two-hundred day moving average of $61.90.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. UL Solutions's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, May 30th. UL Solutions's dividend payout ratio is presently 31.14%.

Wall Street Analysts Forecast Growth

ULS has been the topic of several recent research reports. Wells Fargo & Company upped their price target on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Robert W. Baird upped their price target on UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Raymond James Financial upped their price target on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $71.00 price objective (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group upped their price objective on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $69.43.

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.