Deutsche Bank AG raised its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 1,985.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,358 shares of the company's stock after buying an additional 42,231 shares during the period. Deutsche Bank AG's holdings in UL Solutions were worth $2,213,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after acquiring an additional 401,492 shares during the last quarter. Renaissance Capital LLC lifted its holdings in shares of UL Solutions by 108.5% during the fourth quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock valued at $4,370,000 after purchasing an additional 45,595 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 1,022,851 shares during the last quarter. Picton Mahoney Asset Management boosted its position in shares of UL Solutions by 18.6% in the 4th quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company's stock valued at $5,722,000 after purchasing an additional 18,019 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in UL Solutions in the 4th quarter worth about $332,000.
UL Solutions Trading Down 0.8%
NYSE:ULS opened at $70.97 on Friday. The stock has a market cap of $14.21 billion and a PE ratio of 43.81. UL Solutions Inc. has a fifty-two week low of $37.87 and a fifty-two week 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 stock's 50-day moving average is $59.66 and its two-hundred day moving average is $54.84.
UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The business had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. UL Solutions's quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast 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 will be paid on Monday, June 9th. Shareholders of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. UL Solutions's payout ratio is 31.14%.
Analysts Set New Price Targets
ULS has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Raymond James lifted their target price 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. 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 report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, Robert W. Baird lifted their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $69.43.
Check Out Our Latest Report on UL Solutions
Insider Buying and Selling at UL Solutions
In related news, insider Gitte Schjotz sold 7,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alberto Uggetti sold 1,938 shares of the firm'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 in the company, valued at approximately $492,105. The trade was a 17.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,899 shares of company stock valued at $712,064 in the last quarter. Company insiders own 1.20% of the company's stock.
UL Solutions Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ULS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UL Solutions Inc. (NYSE:ULS - Free Report).
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