Northern Trust Corp Buys 49,222 Shares of UL Solutions Inc. $ULS

Key Points

• Northern Trust Corp increased its shares in UL Solutions Inc. by 26.8% during the first quarter, bringing its total holdings to approximately $13.14 million.
• Wells Fargo raised its price target for UL Solutions from $65.00 to $77.00, signaling confidence in the stock, while other firms have varied ratings and targets.
• UL Solutions recently announced a quarterly dividend of $0.13 per share, which will be paid to investors on record as of August 29th, representing an annual yield of 0.8%.

Northern Trust Corp increased its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 26.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 232,946 shares of the company's stock after acquiring an additional 49,222 shares during the period. Northern Trust Corp owned about 0.12% of UL Solutions worth $13,138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ULS. Hsbc Holdings PLC bought a new stake in UL Solutions during the 4th quarter worth $521,000. Price T Rowe Associates Inc. MD grew its position in shares of UL Solutions by 42.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,782 shares of the company's stock valued at $688,000 after buying an additional 4,100 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of UL Solutions by 56.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 8,827 shares of the company's stock valued at $440,000 after buying an additional 3,185 shares during the last quarter. Algert Global LLC bought a new stake in shares of UL Solutions in the 4th quarter valued at about $4,127,000. Finally, Ameriprise Financial Inc. grew its position in shares of UL Solutions by 3.3% in the 4th quarter. Ameriprise Financial Inc. now owns 124,579 shares of the company's stock valued at $6,214,000 after buying an additional 3,929 shares during the last quarter.

UL Solutions Trading Up 1.6%

Shares of NYSE:ULS traded up $0.99 during midday trading on Tuesday, reaching $64.91. The company's stock had a trading volume of 158,713 shares, compared to its average volume of 812,907. The firm has a market capitalization of $13.04 billion, a price-to-earnings ratio of 40.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50 day moving average price of $68.18 and a two-hundred day moving average price of $63.99. UL Solutions Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $74.15.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $771.55 million. During the same period in the prior year, the business earned $0.44 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 29th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions's dividend payout ratio is 32.10%.

Wall Street Analyst Weigh In

A number of research firms have commented on ULS. Citigroup reiterated a "neutral" rating and issued a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price target on UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, UBS Group dropped their price objective on UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $70.86.

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.