State of Michigan Retirement System Invests $1.40 Million in UL Solutions Inc. $ULS

Key Points

• State of Michigan Retirement System opened a new position in UL Solutions, buying 17,800 shares valued at about $1.40 million during the fourth quarter, according to its 13F filing.
• UL Solutions beat quarterly expectations, reporting $0.53 EPS versus $0.46 expected and $789M revenue (up 6.8% YoY), and raised its quarterly dividend to $0.145 (annualized $0.58, ~0.6% yield).
• CEO Jennifer F. Scanlon sold 12,500 shares for roughly $1.14 million (a 6.23% reduction in her holding), while analysts collectively rate the stock a "Moderate Buy" with an average price target of $88.42.

State of Michigan Retirement System acquired a new position in UL Solutions Inc. (NYSE:ULS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,800 shares of the company's stock, valued at approximately $1,404,000.

Several other large investors have also recently added to or reduced their stakes in ULS. Assetmark Inc. purchased a new stake in UL Solutions during the 3rd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. increased its stake in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock worth $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers purchased a new stake in UL Solutions during the 1st quarter worth approximately $49,000. PNC Financial Services Group Inc. increased its stake in UL Solutions by 18.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company's stock worth $61,000 after buying an additional 133 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in UL Solutions by 3,720.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,299 shares of the company's stock worth $92,000 after buying an additional 1,265 shares during the period.

UL Solutions Trading Up 1.3%

Shares of NYSE:ULS opened at $91.65 on Friday. UL Solutions Inc. has a 52 week low of $58.78 and a 52 week high of $94.04. The company's 50 day moving average is $85.22 and its two-hundred day moving average is $81.22. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market cap of $18.42 billion, a PE ratio of 57.64, a P/E/G ratio of 3.70 and a beta of 0.59.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The company had revenue of $789.00 million for the quarter, compared to the consensus estimate of $782.37 million. During the same period in the prior year, the firm posted $0.49 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that UL Solutions Inc. will post 2.02 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were given a $0.145 dividend. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. UL Solutions's payout ratio is 36.48%.

Analyst Ratings Changes

ULS has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of UL Solutions from $84.00 to $88.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Bank of America upped their target price on shares of UL Solutions to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Zacks Research raised shares of UL Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Robert W. Baird cut 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 note on Friday, February 20th. Finally, Citigroup cut their target price on shares of UL Solutions from $88.10 to $87.80 and set a "neutral" rating on the stock in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, UL Solutions presently has an average rating of "Moderate Buy" and an average price target of $88.42.

Insider Activity at UL Solutions

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $91.57, for a total value of $1,144,625.00. Following the transaction, the chief executive officer directly owned 188,274 shares of the company's stock, valued at $17,240,250.18. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company 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.

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