Geode Capital Management LLC Grows Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Geode Capital Management LLC raised its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 628,680 shares of the company's stock after buying an additional 27,744 shares during the period. Geode Capital Management LLC owned about 0.31% of UL Solutions worth $31,375,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in UL Solutions by 653.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after acquiring an additional 582 shares during the last quarter. Northwest & Ethical Investments L.P. grew its position in shares of UL Solutions by 23.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV acquired a new stake in shares of UL Solutions in the fourth quarter valued at approximately $163,000. Signature Estate & Investment Advisors LLC purchased a new position in UL Solutions during the fourth quarter worth approximately $201,000. Finally, Sanctuary Advisors LLC acquired a new position in UL Solutions during the fourth quarter worth $221,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on ULS. JPMorgan Chase & Co. lifted their price target on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. The Goldman Sachs Group lifted their target price on shares of UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Finally, Citigroup increased their price target on shares of UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.45.

UL Solutions Trading Up 4.2 %

Shares of ULS traded up $2.25 during midday trading on Tuesday, hitting $55.34. 803,202 shares of the stock were exchanged, compared to its average volume of 704,375. UL Solutions Inc. has a 52-week low of $33.50 and a 52-week high of $59.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a fifty day simple moving average of $54.21 and a 200 day simple moving average of $52.88. The firm has a market cap of $11.08 billion and a P/E ratio of 34.16.

UL Solutions (NYSE:ULS - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.11. The company had revenue of $739.00 million during the quarter, compared to analysts' expectations of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. On average, research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is an increase from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. UL Solutions's payout ratio is currently 32.10%.

Insider Activity at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total transaction of $102,714.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is 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.