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

Reynders McVeigh Capital Management LLC grew its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 28.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 473,212 shares of the company's stock after buying an additional 104,503 shares during the period. Reynders McVeigh Capital Management LLC owned approximately 0.24% of UL Solutions worth $23,604,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ULS. PNC Financial Services Group Inc. boosted its stake in 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 acquiring an additional 582 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of UL Solutions by 23.5% during the 4th 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 in the last quarter. KBC Group NV acquired a new stake in shares of UL Solutions in the 4th quarter valued at about $163,000. Signature Estate & Investment Advisors LLC bought a new stake in UL Solutions in the 4th quarter valued at about $201,000. Finally, Sanctuary Advisors LLC bought a new stake in UL Solutions in the 4th quarter valued at about $221,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on ULS. JPMorgan Chase & Co. raised their price objective on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group raised their price objective on shares of UL Solutions from $51.00 to $57.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Finally, Citigroup upped their target price on shares of UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a report on Tuesday, February 25th. 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 company has an average rating of "Moderate Buy" and a consensus target price of $51.45.

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 9,285 shares in the company, valued at approximately $492,105. This represents a 17.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions Stock Performance

Shares of UL Solutions stock traded up $0.46 during trading hours on Friday, hitting $55.64. 971,718 shares of the company's stock traded hands, compared to its average volume of 716,702. The stock has a market capitalization of $11.14 billion and a price-to-earnings ratio of 34.34. UL Solutions Inc. has a 12-month low of $33.50 and a 12-month high of $59.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company has a fifty day simple moving average of $54.29 and a 200-day simple moving average of $52.75.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) 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. Equities research analysts anticipate 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 issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.93%. This is a positive change 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 32.10%.

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.