Sandia Investment Management LP Cuts Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Sandia Investment Management LP cut its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,500 shares of the company's stock after selling 7,500 shares during the period. Sandia Investment Management LP's holdings in UL Solutions were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in UL Solutions by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after purchasing an additional 401,492 shares during the last quarter. Renaissance Capital LLC lifted its position in UL Solutions by 108.5% during the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock worth $4,370,000 after buying an additional 45,595 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock worth $222,658,000 after buying an additional 1,022,851 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in shares of 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 in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of UL Solutions in the fourth quarter valued at about $332,000.

UL Solutions Stock Performance

Shares of ULS traded down $0.43 during trading hours on Thursday, hitting $71.11. The company had a trading volume of 147,089 shares, compared to its average volume of 760,236. The business has a fifty day moving average of $59.29 and a 200-day moving average of $54.71. 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 $14.23 billion and a price-to-earnings ratio of 43.89. UL Solutions Inc. has a 12 month low of $37.87 and a 12 month high of $72.81.

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

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Friday, May 30th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 0.73%. UL Solutions's dividend payout ratio is presently 31.14%.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was 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. The trade was a 17.44% 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. Also, insider Gitte Schjotz sold 7,000 shares of the 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 approximately $3,162,194.16. The trade was a 12.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,899 shares of company stock worth $712,064. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on ULS shares. Robert W. Baird increased their price target on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price objective on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company boosted their target price 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. JPMorgan Chase & Co. increased their price target on shares of UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, UBS Group boosted their price objective on shares of UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, UL Solutions has an average rating of "Hold" and an average target price of $69.43.

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.