TD Asset Management Inc Increases Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Key Points

• TD Asset Management Inc increased its holdings in UL Solutions Inc. by 8.7% in the first quarter, owning 261,860 shares valued at $14.77 million by the end of the reporting period.
• Several hedge funds, including T. Rowe Price Investment Management which raised its stake by 88.8%, have also significantly increased their positions in UL Solutions during the past quarter.
• UL Solutions reported a quarterly earnings per share (EPS) of $0.37, exceeding analyst expectations, and declared a dividend of $0.13 per share, reflecting a yield of 0.71%.

TD Asset Management Inc increased its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 8.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 261,860 shares of the company's stock after buying an additional 20,906 shares during the quarter. TD Asset Management Inc owned 0.13% of UL Solutions worth $14,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in UL Solutions in the 4th quarter valued at about $32,000. Capital Group Investment Management PTE. LTD. increased its position in shares of UL Solutions by 3.4% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 21,735 shares of the company's stock valued at $1,084,000 after buying an additional 705 shares during the period. Rhumbline Advisers bought a new stake in shares of UL Solutions during the first quarter valued at about $49,000. WoodTrust Financial Corp increased its position in shares of UL Solutions by 29.7% during the first quarter. WoodTrust Financial Corp now owns 6,000 shares of the company's stock valued at $338,000 after buying an additional 1,375 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its position in shares of UL Solutions by 28.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,600 shares of the company's stock valued at $429,000 after buying an additional 1,900 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ULS. Wells Fargo & Company upped their price target on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group upped their price target on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. UBS Group upped 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. Raymond James Financial upped their price target on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Citigroup restated a "neutral" rating and issued a $71.00 price objective (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Four research 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, the stock presently has a consensus rating of "Hold" and an average target price of $69.43.

Insider Activity at UL Solutions

In other UL Solutions 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 value of $137,270.00. Following the completion of the sale, the executive vice president owned 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider directly owned 46,889 shares of the company's stock, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

UL Solutions Price Performance

Shares of ULS stock traded down $1.14 during trading on Friday, hitting $71.98. The company had a trading volume of 1,092,718 shares, compared to its average volume of 554,098. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. The stock's 50-day moving average is $71.18 and its two-hundred day moving average is $61.69. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 43.10 and a beta of 1.01. UL Solutions Inc. has a 52 week low of $46.79 and a 52 week high of $74.15.

UL Solutions (NYSE:ULS - Get Free Report) last issued its earnings results 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. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The company's quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 0.7%. UL Solutions's dividend payout ratio is currently 31.14%.

UL Solutions 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.