Sowell Financial Services LLC Buys New Position in UL Solutions Inc. (NYSE:ULS)

Sowell Financial Services LLC bought a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,030 shares of the company's stock, valued at approximately $227,000.

Other hedge funds also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of UL Solutions in the fourth quarter valued at $32,000. PNC Financial Services Group Inc. grew its holdings in UL Solutions by 653.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after buying an additional 582 shares during the period. Rhumbline Advisers purchased a new position in shares of UL Solutions during the 1st quarter worth about $49,000. Northwest & Ethical Investments L.P. lifted its holdings in shares of UL Solutions by 23.5% during the 4th 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 approximately $201,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Raymond James Financial upped their price objective on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group increased their target price on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. UBS Group boosted their price target on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, UL Solutions has a consensus rating of "Hold" and a consensus price target of $69.43.

UL Solutions Stock Performance

NYSE:ULS opened at $70.60 on Monday. The firm's fifty day simple moving average is $66.44 and its 200 day simple moving average is $57.63. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.66. UL Solutions Inc. has a twelve month low of $39.86 and a twelve month high of $72.81. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 42.28 and a beta of 1.20.

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

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, May 30th. UL Solutions's dividend payout ratio (DPR) is 31.14%.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president now owns 9,285 shares of the company's stock, valued at approximately $649,950. This trade represents a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

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.

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