Renaissance Capital LLC Lowers Holdings in UL Solutions Inc. (NYSE:ULS)

Renaissance Capital LLC lowered its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,968 shares of the company's stock after selling 17,641 shares during the period. UL Solutions makes up approximately 3.0% of Renaissance Capital LLC's investment portfolio, making the stock its 13th largest holding. Renaissance Capital LLC's holdings in UL Solutions were worth $3,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of UL Solutions in the fourth quarter worth $32,000. PNC Financial Services Group Inc. increased its stake in shares of UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after acquiring an additional 582 shares during the period. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter worth $49,000. Northwest & Ethical Investments L.P. increased its stake in shares of UL Solutions by 23.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock worth $105,000 after acquiring an additional 400 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of UL Solutions in the fourth quarter worth $201,000.

UL Solutions Price Performance

Shares of NYSE ULS traded down $0.42 during mid-day trading on Tuesday, reaching $70.14. The company's stock had a trading volume of 456,754 shares, compared to its average volume of 763,920. The stock has a 50-day moving average of $63.85 and a two-hundred day moving average of $56.66. The stock has a market capitalization of $14.06 billion, a P/E ratio of 43.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. UL Solutions Inc. has a 1-year low of $38.84 and a 1-year high of $72.81.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share (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 firm had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. The firm's revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

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

Insider Buying and Selling at UL Solutions

In other news, insider Gitte Schjotz sold 7,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at approximately $649,950. The trade was a 17.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Analyst Ratings Changes

ULS has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their price target 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. 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 report on Wednesday, May 7th. Raymond James increased their price target 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. Finally, Robert W. Baird increased their price target 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. Five 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, the company presently has an average rating of "Hold" and a consensus 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.