UL Solutions Inc. (NYSE:ULS) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,230 shares of the company's stock after selling 5,032 shares during the quarter. Legal & General Group Plc's holdings in UL Solutions were worth $2,605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ULS. Vanguard Group Inc. lifted its holdings in shares of UL Solutions by 7.8% during 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 period. Renaissance Capital LLC lifted its holdings in shares of UL Solutions by 108.5% during the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock worth $4,370,000 after acquiring an additional 45,595 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock worth $222,658,000 after acquiring an additional 1,022,851 shares during the period. Picton Mahoney Asset Management lifted its holdings in shares of UL Solutions by 18.6% during the 4th quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company's stock worth $5,722,000 after acquiring an additional 18,019 shares during the period. Finally, State Street Corp lifted its holdings in shares of UL Solutions by 85.3% during the 3rd quarter. State Street Corp now owns 269,616 shares of the company's stock worth $13,292,000 after acquiring an additional 124,116 shares during the period.

Wall Street Analysts Forecast Growth

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

UL Solutions Stock Down 0.7 %

Shares of ULS traded down $0.37 during mid-day trading on Tuesday, reaching $56.96. 106,518 shares of the stock traded hands, compared to its average volume of 708,002. The firm has a market cap of $11.40 billion and a price-to-earnings ratio of 35.15. The stock has a fifty day simple moving average of $54.28 and a 200 day simple moving average of $53.06. UL Solutions Inc. has a 12-month low of $34.03 and a 12-month high of $59.23. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. Sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The business also recently declared 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 represents a $0.52 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

Insider Transactions at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of 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 document filed with the SEC, which is available through this link. Corporate insiders own 1.20% of the company's stock.

UL Solutions 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.