Clearbridge Investments LLC Has $17.55 Million Holdings in UL Solutions Inc. $ULS

Clearbridge Investments LLC cut its stake in UL Solutions Inc. (NYSE:ULS) by 8.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 222,573 shares of the company’s stock after selling 20,718 shares during the quarter. Clearbridge Investments LLC’s holdings in UL Solutions were worth $17,552,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of UL Solutions by 12.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after buying an additional 167,564 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of UL Solutions by 405.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after buying an additional 476,121 shares in the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of UL Solutions by 543.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 192,915 shares of the company’s stock worth $15,213,000 after buying an additional 162,915 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of UL Solutions by 99.3% in the 3rd quarter. Candriam S.C.A. now owns 108,079 shares of the company’s stock worth $7,658,000 after buying an additional 53,856 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of UL Solutions in the 4th quarter worth approximately $2,484,000.

UL Solutions Stock Up 1.7%

NYSE:ULS opened at $98.67 on Wednesday. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $19.89 billion, a P/E ratio of 57.70, a P/E/G ratio of 3.77 and a beta of 0.63. The stock’s fifty day simple moving average is $93.96 and its 200-day simple moving average is $84.53.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. During the same period last year, the company earned $0.37 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, May 29th. UL Solutions’s dividend payout ratio (DPR) is currently 33.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ULS. Bank of America raised their price target on UL Solutions to $86.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $115.00 price target on shares of UL Solutions in a report on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Wall Street Zen raised UL Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, UBS Group lifted their target price on UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, UL Solutions presently has an average rating of “Moderate Buy” and an average price target of $101.54.

Insiders Place Their Bets

In other UL Solutions news, EVP Alberto Uggetti sold 6,100 shares of UL Solutions stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president directly owned 10,307 shares in the company, valued at approximately $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Friedrich Hecker sold 4,000 shares of UL Solutions stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $102.04, for a total value of $408,160.00. Following the transaction, the director owned 13,180 shares in the company, valued at approximately $1,344,887.20. This represents a 23.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 64,980 shares of company stock valued at $6,217,938. Insiders own 1.20% of the company’s stock.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.