Seven Grand Managers LLC Grows Stock Holdings in UL Solutions Inc. $ULS

Key Points

• Seven Grand Managers LLC doubled its stake in UL Solutions in the fourth quarter, buying 200,000 more shares to bring its total to 400,000 shares worth about $31.5 million. UL Solutions now makes up roughly 2.4% of the fund’s portfolio.
• UL Solutions posted better-than-expected first-quarter results, with EPS of $0.50 versus the $0.42 consensus and revenue of $758 million versus $748.5 million expected. Revenue rose 7.5% year over year, and analysts now expect full-year EPS of about 2.1.
• The company continues to draw mixed Wall Street and insider signals: analysts’ consensus remains “Moderate Buy” with an average price target of $101.54, while insiders recently sold shares, including notable sales by Gitte Schjotz and Director Friedrich Hecker.

Seven Grand Managers LLC raised its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 400,000 shares of the company's stock after buying an additional 200,000 shares during the period. UL Solutions comprises approximately 2.4% of Seven Grand Managers LLC's investment portfolio, making the stock its 10th biggest position. Seven Grand Managers LLC owned approximately 0.20% of UL Solutions worth $31,544,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of UL Solutions by 21.9% in the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company's stock valued at $531,567,000 after buying an additional 1,213,188 shares in the last quarter. Capital International Investors boosted its stake in shares of UL Solutions by 10.8% during the 3rd quarter. Capital International Investors now owns 7,548,311 shares of the company's stock worth $534,738,000 after acquiring an additional 738,720 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of UL Solutions by 20.6% in the 3rd quarter. Capital Research Global Investors now owns 3,942,905 shares of the company's stock worth $279,394,000 after acquiring an additional 674,088 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of UL Solutions by 405.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company's stock worth $42,054,000 after acquiring an additional 476,121 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of UL Solutions by 57.3% during the third quarter. First Trust Advisors LP now owns 1,137,364 shares of the company's stock worth $80,594,000 after purchasing an additional 414,363 shares during the period.

UL Solutions Stock Performance

Shares of UL Solutions stock opened at $100.78 on Thursday. 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 stock has a market cap of $20.31 billion, a PE ratio of 58.94, a price-to-earnings-growth ratio of 3.92 and a beta of 0.59. The business has a fifty day simple moving average of $91.54 and a 200-day simple moving average of $83.77.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. On average, sell-side analysts anticipate that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Friday, May 29th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. UL Solutions's payout ratio is presently 33.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ULS shares. Wall Street Zen upgraded UL Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. boosted their price objective on UL Solutions from $88.00 to $108.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. UBS Group upped their price objective on shares of UL Solutions from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of UL Solutions in a report on Monday, April 20th. They issued a "neutral" rating and a $95.00 target price for the company. Finally, Robert W. Baird dropped their target price on shares of UL Solutions from $97.00 to $96.00 and set an "outperform" rating on the stock in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, UL Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $101.54.

Insider Activity at UL Solutions

In related news, insider Gitte Schjotz sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $103.96, for a total transaction of $831,680.00. Following the transaction, the insider owned 81,221 shares of the company's stock, valued at approximately $8,443,735.16. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Friedrich Hecker sold 4,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $102.04, for a total transaction of $408,160.00. Following the transaction, the director owned 13,180 shares in the company, valued at approximately $1,344,887.20. This trade represents a 23.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,100 shares of company stock worth $4,063,215 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

UL Solutions Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.