UL Solutions Inc. (NYSE:ULS) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 169.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,558 shares of the company's stock after buying an additional 53,195 shares during the period. Victory Capital Management Inc.'s holdings in UL Solutions were worth $4,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ULS. Norges Bank purchased a new stake in UL Solutions during the 4th quarter worth $173,869,000. T. Rowe Price Investment Management Inc. boosted its position in UL Solutions by 88.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock worth $210,729,000 after purchasing an additional 1,987,295 shares during the period. Bessemer Group Inc. purchased a new stake in UL Solutions during the 1st quarter worth $80,618,000. Capital International Investors boosted its position in UL Solutions by 7.4% during the 4th quarter. Capital International Investors now owns 11,691,957 shares of the company's stock worth $583,324,000 after purchasing an additional 809,779 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in UL Solutions during the 4th quarter worth $32,091,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ULS shares. Raymond James Financial upped their price target on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group upped 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. 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. Wells Fargo & Company upped 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. Finally, Robert W. Baird upped 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, UL Solutions currently has a consensus rating of "Hold" and an average target price of $69.43.

Insider Transactions at UL Solutions

In other news, EVP Alberto Uggetti sold 1,961 shares of the company's stock in a transaction dated 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 owned 9,285 shares in the company, valued at approximately $649,950. This represents a 17.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gitte Schjotz sold 7,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $3,162,194.16. This trade represents a 12.99% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

UL Solutions Stock Performance

NYSE:ULS opened at $70.28 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $71.14 and a two-hundred day moving average of $61.14. The stock has a market cap of $14.09 billion, a P/E ratio of 42.08 and a beta of 1.02. UL Solutions Inc. has a 1-year low of $44.84 and a 1-year high of $73.98.

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 for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The firm's revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders 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%.

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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