State of Wyoming Increases Stake in UL Solutions Inc. (NYSE:ULS)

State of Wyoming raised its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 123.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,958 shares of the company's stock after acquiring an additional 6,043 shares during the quarter. State of Wyoming's holdings in UL Solutions were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ULS. Norges Bank purchased a new position in shares of UL Solutions during the fourth quarter valued at about $173,869,000. T. Rowe Price Investment Management Inc. increased its position in shares of UL Solutions by 88.8% during 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 buying an additional 1,987,295 shares during the period. JPMorgan Chase & Co. increased its position in shares of UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after buying an additional 1,022,851 shares during the period. Capital International Investors increased its position in shares of UL Solutions by 7.4% during the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company's stock valued at $583,324,000 after buying an additional 809,779 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of UL Solutions during the fourth quarter valued at about $32,091,000.

UL Solutions Stock Up 1.0%

NYSE:ULS traded up $0.70 during mid-day trading on Friday, hitting $71.70. 419,565 shares of the company's stock were exchanged, compared to its average volume of 758,150. UL Solutions Inc. has a one year low of $37.87 and a one year high of $72.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The business has a fifty day moving average price of $60.03 and a 200 day moving average price of $55.01. The company has a market cap of $14.35 billion and a PE ratio of 44.26.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping 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 net margin of 11.36% and a return on equity of 44.52%. The company's revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 30th will be paid a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.73%. UL Solutions's dividend payout ratio is presently 31.14%.

Insider Transactions at UL Solutions

In other news, insider Gitte Schjotz sold 7,000 shares of the company'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 value of $472,080.00. Following the transaction, the insider now owns 46,889 shares in the company, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $492,105. The trade was a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,899 shares of company stock worth $712,064. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ULS shares. The Goldman Sachs Group boosted 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. UBS Group boosted their price target on shares of UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Raymond James boosted their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird boosted their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Five 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.com, UL Solutions has an average 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.