UL Solutions Inc. (NYSE:ULS) Holdings Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 48.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 679,150 shares of the company's stock after selling 648,658 shares during the period. Massachusetts Financial Services Co. MA owned 0.34% of UL Solutions worth $38,304,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ULS. Sowell Financial Services LLC bought a new stake in UL Solutions in the first quarter worth approximately $227,000. Vanguard Group Inc. lifted its holdings in UL Solutions by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock valued at $278,016,000 after purchasing an additional 401,492 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of UL Solutions by 75.3% in the first quarter. Fifth Third Bancorp now owns 9,795 shares of the company's stock worth $552,000 after acquiring an additional 4,206 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of UL Solutions during the 1st quarter worth approximately $417,000. Finally, Vest Financial LLC acquired a new stake in shares of UL Solutions during the 1st quarter worth approximately $881,000.

UL Solutions Stock Down 1.0%

Shares of UL Solutions stock opened at $70.12 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $14.06 billion, a PE ratio of 41.99 and a beta of 1.02. UL Solutions Inc. has a 1-year low of $43.70 and a 1-year high of $73.98. The business has a 50-day moving average of $71.20 and a 200-day moving average of $60.20.

UL Solutions (NYSE:ULS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The firm had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. The company's quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that UL Solutions Inc. will post 1.69 EPS 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 dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, May 30th. UL Solutions's payout ratio is 31.14%.

Analyst Ratings Changes

Several analysts have issued reports on ULS shares. Raymond James Financial upped their price target on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Robert W. Baird boosted their price objective on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Finally, UBS Group increased their price objective on UL Solutions from $58.00 to $72.00 and gave the company 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 given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $69.43.

Insider Buying and Selling

In other news, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the transaction, the insider owned 46,889 shares in the company, valued at $3,162,194.16. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of UL Solutions stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $137,270.00. Following the sale, the executive vice president owned 9,285 shares of the company's stock, valued at approximately $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.

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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