UL Solutions Inc. (NYSE:ULS) Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 426,592 shares of the company's stock after acquiring an additional 64,292 shares during the period. Renaissance Technologies LLC owned about 0.21% of UL Solutions worth $21,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ULS. PNC Financial Services Group Inc. raised its stake in shares of UL Solutions by 653.9% during 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. boosted its holdings 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 acquiring an additional 400 shares in the last quarter. KBC Group NV acquired a new position in shares of UL Solutions during the fourth quarter worth about $163,000. Sanctuary Advisors LLC acquired a new stake in UL Solutions in the fourth quarter valued at about $221,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in UL Solutions in the 4th quarter valued at approximately $201,000.

Insider Activity

In other news, EVP Alberto Uggetti sold 1,938 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the completion of the transaction, the executive vice president now owns 9,285 shares in the company, valued at approximately $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 accessible through this link.

UL Solutions Stock Up 0.8 %

NYSE ULS traded up $0.46 on Friday, hitting $55.64. 971,718 shares of the stock traded hands, compared to its average volume of 716,702. The stock has a 50-day moving average of $54.29 and a 200 day moving average of $52.75. UL Solutions Inc. has a twelve month low of $33.50 and a twelve month high of $59.23. The company has a market capitalization of $11.14 billion and a P/E ratio of 34.34. The company has a current ratio of 1.31, a quick 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, beating analysts' consensus estimates of $0.38 by $0.11. The company had revenue of $739.00 million for 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%. As a group, analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's payout ratio is currently 32.10%.

Analyst Upgrades and Downgrades

ULS has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on UL Solutions from $51.00 to $57.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Citigroup boosted their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, UL Solutions presently has an average rating of "Moderate Buy" and a consensus target price of $51.45.

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.