Wells Fargo & Company MN Acquires 6,727 Shares of UL Solutions Inc. (NYSE:ULS)

Wells Fargo & Company MN increased its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,874 shares of the company's stock after acquiring an additional 6,727 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of UL Solutions worth $11,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp lifted its position in shares of UL Solutions by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 30,500 shares of the company's stock worth $1,504,000 after purchasing an additional 485 shares during the last quarter. State Street Corp lifted its holdings in shares of UL Solutions by 85.3% during the third quarter. State Street Corp now owns 269,616 shares of the company's stock worth $13,292,000 after buying an additional 124,116 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of UL Solutions in the third quarter valued at approximately $395,000. Geode Capital Management LLC grew its stake in shares of UL Solutions by 55.2% in the third quarter. Geode Capital Management LLC now owns 600,936 shares of the company's stock worth $29,639,000 after acquiring an additional 213,635 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in UL Solutions by 29.3% during the third 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.

UL Solutions Price Performance

Shares of UL Solutions stock traded up $0.46 during mid-day trading on Friday, reaching $55.64. 971,718 shares of the stock were exchanged, compared to its average volume of 702,637. UL Solutions Inc. has a fifty-two week low of $33.50 and a fifty-two week high of $59.23. The company has a market cap of $11.14 billion and a price-to-earnings ratio of 34.34. The firm has a 50-day simple moving average of $54.30 and a 200 day simple moving average of $52.84. 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 posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share 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 during the quarter, compared to analyst estimates of $726.54 million. On average, sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

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

Insider Activity

In other news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $492,105. This represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group raised their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. Finally, Citigroup boosted their price objective on UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.