Victory Capital Management Inc. Has $4.77 Million Stake in UL Solutions Inc. (NYSE:ULS)

Key Points

• Victory Capital Management Inc. increased its stake in UL Solutions Inc. by 169.6%, now owning 84,558 shares valued at approximately $4.77 million.
• Several analysts have raised their price targets on UL Solutions, with Raymond James setting a target of $72.00 and Wells Fargo adjusting theirs to $77.00.
• UL Solutions announced a quarterly dividend of $0.13 per share, which translates to an annualized yield of 0.74%.

Victory Capital Management Inc. lifted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 169.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,558 shares of the company's stock after acquiring an additional 53,195 shares during the period. Victory Capital Management Inc.'s holdings in UL Solutions were worth $4,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans acquired a new position in UL Solutions during the 4th quarter worth $677,000. American Century Companies Inc. lifted its position in shares of UL Solutions by 38.0% during the 4th quarter. American Century Companies Inc. now owns 425,307 shares of the company's stock worth $21,214,000 after purchasing an additional 117,176 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in UL Solutions during the 4th quarter valued at approximately $604,000. Vanguard Group Inc. grew its holdings in UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock valued at $278,016,000 after buying an additional 401,492 shares during the last quarter. Finally, Norges Bank acquired a new stake in UL Solutions in the 4th quarter valued at approximately $173,869,000.

Insider Activity

In other news, insider Gitte Schjotz sold 7,000 shares of the firm's stock in a transaction that occurred 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 owned 46,889 shares of the company's stock, 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 SEC, which is accessible through this link. Also, EVP Alberto Uggetti sold 1,961 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 9,285 shares of the company's stock, valued at $649,950. This 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 corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Raymond James Financial upped 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. Citigroup reissued a "neutral" rating and issued a $71.00 price target (up from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. The Goldman Sachs Group raised their price target on shares of UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. UBS Group increased their target price on shares of UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird boosted their price target on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $69.43.

UL Solutions Price Performance

NYSE ULS traded up $0.70 during trading on Wednesday, reaching $73.09. 781,983 shares of the company traded hands, compared to its average volume of 594,317. UL Solutions Inc. has a 1-year low of $46.53 and a 1-year high of $73.98. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 43.77 and a beta of 1.02. The stock's 50 day moving average price is $71.13 and its two-hundred day moving average price is $61.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.24.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $705.00 million for the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The business's quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were given 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 yield of 0.71%. UL Solutions's dividend payout ratio (DPR) 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.