Norges Bank Acquires New Holdings in UL Solutions Inc. $ULS

Norges Bank acquired a new stake in UL Solutions Inc. (NYSE:ULS) in the fourth quarter, HoldingsChannel reports. The firm acquired 922,133 shares of the company’s stock, valued at approximately $72,719,000.

Other large investors have also added to or reduced their stakes in the company. Capital International Investors raised its holdings in UL Solutions by 10.8% during the 3rd quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock worth $534,738,000 after purchasing an additional 738,720 shares during the last quarter. Vanguard Group Inc. raised its holdings in UL Solutions by 21.9% during the 4th quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after purchasing an additional 1,213,188 shares during the last quarter. Capital Research Global Investors raised its holdings in UL Solutions by 20.6% during the 3rd quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock worth $279,394,000 after purchasing an additional 674,088 shares during the last quarter. Bessemer Group Inc. raised its holdings in UL Solutions by 3.3% during the 4th quarter. Bessemer Group Inc. now owns 2,221,669 shares of the company’s stock worth $175,203,000 after purchasing an additional 70,279 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in UL Solutions by 12.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after purchasing an additional 167,564 shares during the last quarter.

Insider Buying and Selling at UL Solutions

In related news, EVP Alberto Uggetti sold 6,100 shares of UL Solutions stock in a transaction on Monday, May 11th. The shares were sold at an average price of $100.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president owned 10,307 shares of the company’s stock, valued at approximately $1,030,700. This trade represents a 37.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gitte Schjotz sold 9,865 shares of UL Solutions stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $96.98, for a total transaction of $956,707.70. Following the completion of the sale, the insider directly owned 59,341 shares of the company’s stock, valued at approximately $5,754,890.18. The trade was a 14.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 64,980 shares of company stock worth $6,217,938. 1.20% of the stock is owned by company insiders.

UL Solutions Stock Performance

NYSE ULS opened at $96.80 on Friday. The company has a fifty day simple moving average of $93.40 and a 200 day simple moving average of $84.39. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market cap of $19.51 billion, a P/E ratio of 56.61, a PEG ratio of 3.77 and a beta of 0.63.

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, beating the consensus estimate of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. During the same quarter last year, the firm posted $0.37 EPS. UL Solutions’s revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ULS shares. Wells Fargo & Company raised their price target on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 8th. Zacks Research upgraded shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Citigroup raised their price target on shares of UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

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.