UL Solutions Inc. (NYSE:ULS) Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS raised its investment in UL Solutions by 39.7%, acquiring an additional 4,800 shares, bringing its total holdings to 16,900 shares valued at approximately $953,000.
• UL Solutions reported $0.37 earnings per share for the last quarter, surpassing analyst expectations, while its revenue increased by 5.2% year-over-year to $705 million.
• The company announced a quarterly dividend of $0.13, representing an annualized dividend yield of 0.74% with a payout ratio of 31.14%.

KLP Kapitalforvaltning AS increased its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 39.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,900 shares of the company's stock after purchasing an additional 4,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in UL Solutions were worth $953,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in UL Solutions during the 1st quarter worth approximately $723,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of UL Solutions in the first quarter worth $451,000. Allianz Asset Management GmbH purchased a new position in shares of UL Solutions during the first quarter worth $9,010,000. Victory Capital Management Inc. raised its holdings in shares of UL Solutions by 169.6% during the first quarter. Victory Capital Management Inc. now owns 84,558 shares of the company's stock worth $4,769,000 after purchasing an additional 53,195 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in UL Solutions by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 174,224 shares of the company's stock valued at $9,826,000 after purchasing an additional 5,239 shares during the period.

UL Solutions Stock Down 0.3%

Shares of ULS opened at $70.09 on Tuesday. The firm has a market cap of $14.05 billion, a P/E ratio of 41.97 and a beta of 1.02. UL Solutions Inc. has a 12 month low of $44.84 and a 12 month high of $73.98. The stock's 50 day moving average is $71.09 and its two-hundred day moving average is $61.37. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.66.

UL Solutions (NYSE:ULS - Get Free Report) last announced its 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. 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. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were given a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.74%. UL Solutions's dividend payout ratio (DPR) is 31.14%.

Insider Activity

In other UL Solutions 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president directly owned 9,285 shares of the company's stock, valued at $649,950. The trade was a 17.44% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ULS has been the topic of several analyst reports. UBS Group increased their price target on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group raised their target price on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted 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. Raymond James Financial upped their price objective on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Citigroup reaffirmed a "neutral" rating and set a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.

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