Sandia Investment Management LP Has $374,000 Stake in UL Solutions Inc. (NYSE:ULS)

Sandia Investment Management LP reduced its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,500 shares of the company's stock after selling 7,500 shares during the quarter. Sandia Investment Management LP's holdings in UL Solutions were worth $374,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Capital International Investors grew its stake in shares of UL Solutions by 7.4% during the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company's stock valued at $583,324,000 after purchasing an additional 809,779 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of UL Solutions by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock valued at $278,016,000 after purchasing an additional 401,492 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after purchasing an additional 1,022,851 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of UL Solutions by 88.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock valued at $210,729,000 after purchasing an additional 1,987,295 shares during the last quarter. Finally, FMR LLC grew its stake in shares of UL Solutions by 17.2% during the fourth quarter. FMR LLC now owns 4,178,072 shares of the company's stock valued at $208,402,000 after purchasing an additional 612,834 shares during the last quarter.

Insider Transactions at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction 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 transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $492,105. This trade represents a 17.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the transaction, the insider now directly owns 46,889 shares in the company, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,899 shares of company stock valued at $712,064 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

UL Solutions Trading Down 1.4%

ULS stock traded down $1.00 during midday trading on Tuesday, reaching $71.79. The company's stock had a trading volume of 466,408 shares, compared to its average volume of 765,836. UL Solutions Inc. has a 52 week low of $37.87 and a 52 week high of $72.81. The stock has a market cap of $14.37 billion and a PE ratio of 44.31. 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 business's 50-day simple moving average is $58.91 and its 200-day simple moving average is $54.59.

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

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.72%. UL Solutions's dividend payout ratio is 31.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ULS shares. Raymond James increased their price target on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Robert W. Baird increased their price target on shares of UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $71.00 price objective (up from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. The Goldman Sachs Group raised their price objective on shares of UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group raised their price objective on shares of UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.