SG Americas Securities LLC Makes New Investment in UL Solutions Inc. (NYSE:ULS)

SG Americas Securities LLC purchased a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,387 shares of the company's stock, valued at approximately $417,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of UL Solutions in the 4th quarter valued at $32,000. PNC Financial Services Group Inc. raised its holdings in UL Solutions by 653.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after purchasing an additional 582 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of UL Solutions in the 1st quarter valued at about $49,000. Northwest & Ethical Investments L.P. increased its stake in shares of UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after acquiring an additional 400 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of UL Solutions in the 4th quarter valued at about $201,000.

Wall Street Analyst Weigh In

ULS has been the subject of a number of research reports. Wells Fargo & Company increased their target price on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Citigroup reissued a "neutral" rating and issued a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. UBS Group raised their price target on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. The Goldman Sachs Group raised their price target on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Robert W. Baird lifted their target price on UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $69.43.

Insider Activity at UL Solutions

In other news, EVP Alberto Uggetti sold 1,961 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $70.00, for a total transaction of $137,270.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $649,950. This represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gitte Schjotz sold 7,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 46,889 shares in the company, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

UL Solutions Stock Up 1.9%

Shares of NYSE ULS opened at $72.84 on Wednesday. The company has a market cap of $14.60 billion, a price-to-earnings ratio of 43.62 and a beta of 1.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $67.02 and a two-hundred day moving average price of $57.86. UL Solutions Inc. has a 12 month low of $39.86 and a 12 month high of $72.94.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $705.00 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. As a group, analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, May 30th. UL Solutions's payout ratio is presently 31.14%.

UL Solutions Company Profile

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.

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