Fifth Third Bancorp Acquires 4,206 Shares of UL Solutions Inc. (NYSE:ULS)

Fifth Third Bancorp grew its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 75.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,795 shares of the company's stock after acquiring an additional 4,206 shares during the quarter. Fifth Third Bancorp's holdings in UL Solutions were worth $552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP acquired a new stake in UL Solutions during the 4th quarter worth approximately $32,000. PNC Financial Services Group Inc. grew its position in UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after acquiring an additional 582 shares in the last quarter. Rhumbline Advisers acquired a new stake in UL Solutions in the first quarter valued at approximately $49,000. Northwest & Ethical Investments L.P. grew its position in UL Solutions by 23.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after acquiring an additional 400 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in UL Solutions in the fourth quarter valued at approximately $221,000.

Insider Activity

In related news, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the transaction, the insider now directly owns 46,889 shares of the company's stock, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president now directly owns 9,285 shares in the company, 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.

Analysts Set New Price Targets

ULS has been the subject of several recent research reports. Wells Fargo & Company increased their price objective 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 increased their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research 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 company a "neutral" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. increased their target price on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, UBS Group increased their target price on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $69.43.

UL Solutions Stock Performance

ULS traded down $0.28 during trading hours on Friday, hitting $70.60. 1,592,417 shares of the stock were exchanged, compared to its average volume of 757,457. The stock has a 50-day simple moving average of $66.44 and a 200-day simple moving average of $57.60. UL Solutions Inc. has a 12 month low of $39.86 and a 12 month high of $72.81. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 42.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.24 and a quick ratio of 1.24.

UL Solutions (NYSE:ULS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The firm had revenue of $705.00 million for the quarter, compared to analyst estimates of $704.19 million. UL Solutions's quarterly 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 year.

UL Solutions Dividend Announcement

The business also recently announced 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 of this dividend was Friday, May 30th. UL Solutions's dividend payout ratio is presently 31.14%.

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.