Price T Rowe Associates Inc. MD Boosts Stake in UL Solutions Inc. (NYSE:ULS)

Price T Rowe Associates Inc. MD increased its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,782 shares of the company's stock after purchasing an additional 4,100 shares during the period. Price T Rowe Associates Inc. MD's holdings in UL Solutions were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ULS. Vanguard Group Inc. raised its holdings in UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock valued at $278,016,000 after acquiring an additional 401,492 shares during the last quarter. Renaissance Capital LLC raised its holdings in UL Solutions by 108.5% in the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock valued at $4,370,000 after acquiring an additional 45,595 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after acquiring an additional 1,022,851 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in UL Solutions by 18.6% in the 4th quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company's stock valued at $5,722,000 after acquiring an additional 18,019 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in UL Solutions in the 4th quarter valued at about $332,000.

UL Solutions Stock Performance

NYSE:ULS opened at $70.42 on Tuesday. 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 market capitalization of $14.10 billion and a P/E ratio of 43.47. The company has a 50 day moving average price of $56.47 and a 200 day moving average price of $53.80. UL Solutions Inc. has a fifty-two week low of $36.51 and a fifty-two week high of $71.95.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The firm had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The company's revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors 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 0.74%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio (DPR) is presently 31.14%.

Insider Buying and Selling

In other UL Solutions news, EVP Alberto Uggetti sold 1,961 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the transaction, the executive vice president now owns 9,285 shares of the company's stock, valued at $649,950. This trade represents a 17.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $472,080.00. Following the completion of the transaction, the insider now directly owns 46,889 shares of the company's stock, valued at $3,162,194.16. This represents a 12.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,899 shares of company stock valued at $712,064. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup increased their price objective 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. Raymond James raised their price target on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their price target on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Robert W. Baird raised their price target on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, UBS Group raised their price target on shares of UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.93.

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.

Want to see what other hedge funds are holding ULS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UL Solutions Inc. (NYSE:ULS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.