Soros Fund Management LLC Lowers Position in UL Solutions Inc. (NYSE:ULS)

Soros Fund Management LLC reduced its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100,000 shares of the company's stock after selling 37,077 shares during the quarter. UL Solutions comprises approximately 0.8% of Soros Fund Management LLC's portfolio, making the stock its 26th biggest holding. Soros Fund Management LLC owned approximately 0.55% of UL Solutions worth $54,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ULS. Quarry LP bought a new position in shares of UL Solutions in the fourth quarter worth approximately $32,000. PNC Financial Services Group Inc. raised its stake in shares of UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after purchasing an additional 582 shares during the last quarter. Northwest & Ethical Investments L.P. raised its stake 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 worth $105,000 after purchasing an additional 400 shares during the last quarter. KBC Group NV purchased a new stake in UL Solutions during the fourth quarter valued at $163,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in UL Solutions during the fourth quarter valued at $201,000.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the sale, the executive vice president now owns 9,285 shares of the company's stock, valued at $492,105. This trade represents a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

ULS has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Citigroup boosted their target price 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.45.

UL Solutions Stock Performance

Shares of ULS opened at $57.29 on Tuesday. UL Solutions Inc. has a 52-week low of $34.03 and a 52-week 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. The firm has a market cap of $11.47 billion and a price-to-earnings ratio of 35.36. The business's 50 day moving average is $54.28 and its two-hundred day moving average is $53.06.

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

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.91%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. UL Solutions's dividend payout ratio is currently 32.10%.

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.

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.