UL Solutions Inc. $ULS Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 26,166.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,384 shares of the company's stock after purchasing an additional 157,781 shares during the quarter. Fifth Third Bancorp owned approximately 0.08% of UL Solutions worth $13,575,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of UL Solutions by 119.5% during the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company's stock valued at $8,090,000 after buying an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. raised its position in UL Solutions by 104.3% during the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company's stock worth $25,953,000 after acquiring an additional 234,913 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in UL Solutions by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company's stock valued at $6,981,000 after purchasing an additional 13,205 shares in the last quarter. Rhumbline Advisers purchased a new position in UL Solutions during the first quarter valued at $49,000. Finally, Creative Planning acquired a new stake in shares of UL Solutions in the second quarter valued at about $208,000.

UL Solutions Price Performance

Shares of NYSE ULS opened at $87.39 on Wednesday. The firm has a 50-day simple moving average of $96.64 and a 200-day simple moving average of $86.60. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $17.61 billion, a price-to-earnings ratio of 51.11, a price-to-earnings-growth ratio of 3.41 and a beta of 0.63. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.08. The firm had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. UL Solutions's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. On average, equities analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.145 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions's dividend payout ratio is 33.92%.

Analyst Ratings Changes

Several research firms recently weighed in on ULS. UBS Group upgraded shares of UL Solutions from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Tuesday. Zacks Research cut UL Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on UL Solutions from $88.00 to $108.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Wells Fargo & Company increased their target price on UL Solutions from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, Telsey Advisory Group set a $100.00 target price on UL Solutions in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $101.54.

Insiders Place Their Bets

In other UL Solutions news, insider Gitte Schjotz sold 9,865 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $96.98, for a total value of $956,707.70. Following the completion of the sale, the insider directly owned 59,341 shares in the company, valued at $5,754,890.18. This represents a 14.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Karen K. Pepping sold 725 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value of $70,861.50. Following the completion of the sale, the chief accounting officer directly owned 8,082 shares of the company's stock, valued at $789,934.68. This trade represents a 8.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 65,705 shares of company stock valued at $6,460,300. Insiders own 1.20% of the company's stock.

UL Solutions Company Profile

UL Solutions NYSE: ULS is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters' Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company's core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.

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