UL Solutions Inc. (NYSE:ULS) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 75.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,795 shares of the company's stock after acquiring an additional 4,206 shares during the period. Fifth Third Bancorp's holdings in UL Solutions were worth $552,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Northwest & Ethical Investments L.P. lifted its position in UL Solutions by 23.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after buying an additional 400 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after buying an additional 582 shares in the last quarter. Quarry LP acquired a new position in UL Solutions during the fourth quarter valued at approximately $32,000. Lisanti Capital Growth LLC lifted its position in UL Solutions by 0.7% during the fourth quarter. Lisanti Capital Growth LLC now owns 93,620 shares of the company's stock valued at $4,670,000 after buying an additional 690 shares in the last quarter. Finally, Capital Group Investment Management PTE. LTD. lifted its position in 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 in the last quarter.

UL Solutions Trading Down 1.3%

ULS opened at $70.56 on Wednesday. The firm has a market capitalization of $14.15 billion, a P/E ratio of 42.25 and a beta of 1.21. The firm's 50 day moving average is $65.52 and its 200-day moving average is $57.24. UL Solutions Inc. has a 52-week low of $39.86 and a 52-week high of $72.81. 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 (NYSE:ULS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 11.60% and a return on equity of 40.79%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors 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 dividend on an annualized basis and a dividend yield of 0.74%. UL Solutions's dividend payout ratio (DPR) is presently 31.14%.

Insider Buying and Selling

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the sale, the insider now owns 46,889 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction 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 now owns 9,285 shares of the company's stock, valued at approximately $649,950. The trade was a 17.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ULS shares. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and set a $71.00 price target (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price target on shares of UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird lifted their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $69.43.

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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