KLP Kapitalforvaltning AS Has $953,000 Stock Holdings in UL Solutions Inc. (NYSE:ULS)

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 boosted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 39.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ULS. Norges Bank bought a new stake in UL Solutions in the fourth quarter valued at about $173,869,000. T. Rowe Price Investment Management Inc. increased its holdings in UL Solutions by 88.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock valued at $210,729,000 after purchasing an additional 1,987,295 shares during the last quarter. Bessemer Group Inc. bought a new stake in UL Solutions in the first quarter valued at about $80,618,000. Capital International Investors increased its holdings in UL Solutions by 7.4% in the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company's stock valued at $583,324,000 after purchasing an additional 809,779 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in UL Solutions in the fourth quarter valued at about $32,091,000.

Insider Transactions at UL Solutions

In related news, insider Gitte Schjotz sold 7,000 shares of the 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 completion of the transaction, the insider directly owned 46,889 shares in the company, valued at approximately $3,162,194.16. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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. This trade represents a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

UL Solutions Stock Down 1.2%

Shares of NYSE:ULS traded down $0.90 during mid-day trading on Friday, reaching $72.22. 576,044 shares of the stock were exchanged, compared to its average volume of 764,429. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. The company has a market cap of $14.48 billion, a P/E ratio of 43.21 and a beta of 1.02. UL Solutions Inc. has a one year low of $46.79 and a one year high of $74.15. The stock's 50 day simple moving average is $71.18 and its 200-day simple moving average is $61.69.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. UL Solutions's revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions's dividend payout ratio (DPR) is presently 31.14%.

Analysts Set New Price Targets

A number of research firms recently commented on ULS. Citigroup reiterated a "neutral" rating and issued a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Raymond James Financial increased their price target on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their price target on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. UBS Group increased their price target on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group increased their price target on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, UL Solutions currently has a consensus rating of "Hold" and a consensus price target of $69.43.

UL Solutions 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.