TD Asset Management Inc Grows Position 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% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.13% of UL Solutions worth $14,769,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of UL Solutions in the fourth quarter valued at about $32,000. Rhumbline Advisers purchased a new position in UL Solutions in the first quarter valued at about $49,000. Phillips Wealth Planners LLC purchased a new position in UL Solutions in the first quarter valued at about $226,000. Sowell Financial Services LLC purchased a new position in UL Solutions in the first quarter valued at about $227,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in UL Solutions in the fourth quarter valued at about $332,000.

UL Solutions Stock Performance

Shares of UL Solutions stock traded up $0.50 on Monday, reaching $72.40. 605,011 shares of the stock were exchanged, compared to its average volume of 768,388. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. UL Solutions Inc. has a twelve month low of $46.79 and a twelve month high of $74.15. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of 43.31 and a beta of 1.01. The business has a 50 day moving average price of $71.18 and a two-hundred day moving average price of $61.97.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The firm's revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

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

Insider Activity at UL Solutions

In related news, insider Gitte Schjotz sold 7,000 shares of the business'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 transaction of $472,080.00. Following the completion of the sale, the insider directly owned 46,889 shares in the company, valued at approximately $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of the business'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 sale, the executive vice president owned 9,285 shares of the company's stock, valued at $649,950. The trade was a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

ULS has been the topic of several analyst reports. Raymond James Financial lifted their target price on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. The Goldman Sachs Group lifted their target price on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. UBS Group boosted their price target on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird boosted 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, UL Solutions has a consensus rating of "Hold" and an average target price of $69.43.

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.