Zimmer Partners LP Lowers Stock Position in UL Solutions Inc. (NYSE:ULS)

Zimmer Partners LP lowered its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 76.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,000 shares of the company's stock after selling 545,000 shares during the quarter. Zimmer Partners LP owned approximately 0.08% of UL Solutions worth $8,230,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in UL Solutions by 7.8% during the fourth 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 period. Renaissance Capital LLC grew its position in 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 buying an additional 45,595 shares during the period. JPMorgan Chase & Co. grew its position in 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. Picton Mahoney Asset Management grew its position in UL Solutions by 18.6% during the fourth quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company's stock valued at $5,722,000 after buying an additional 18,019 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in UL Solutions during the fourth quarter valued at about $332,000.

Analyst Ratings Changes

ULS has been the subject of several research reports. UBS Group increased 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. Raymond James increased 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. Wells Fargo & Company increased their target price on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. increased their target price on shares of UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Robert W. Baird increased their target price 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $69.43.

UL Solutions Price Performance

Shares of UL Solutions stock traded up $0.70 on Friday, reaching $71.70. The stock had a trading volume of 419,565 shares, compared to its average volume of 758,150. UL Solutions Inc. has a 1 year low of $37.87 and a 1 year high of $72.81. The company has a market cap of $14.35 billion and a P/E ratio of 44.26. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The business's 50 day moving average is $60.03 and its two-hundred day moving average is $55.01.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results 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. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The firm had revenue of $705.00 million for the quarter, compared to the consensus estimate of $704.19 million. The firm's revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

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

Insider Transactions at UL Solutions

In related 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 value of $472,080.00. Following the sale, the insider now directly owns 46,889 shares of the company's stock, valued at $3,162,194.16. This trade represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the sale, the executive vice president now directly owns 9,285 shares in the company, valued at $492,105. This represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,899 shares of company stock valued at $712,064. 1.20% of the stock is currently owned by corporate insiders.

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.