T. Rowe Price Investment Management Inc. Raises Stake in UL Solutions Inc. $ULS

T. Rowe Price Investment Management Inc. raised its holdings in UL Solutions Inc. (NYSE:ULS) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,878,995 shares of the company’s stock after purchasing an additional 545,528 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.93% of UL Solutions worth $463,618,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ULS. Assetmark Inc. purchased a new position in shares of UL Solutions during the third quarter worth about $40,000. Northwestern Mutual Wealth Management Co. raised its stake in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares during the last quarter. Rhumbline Advisers acquired a new stake in UL Solutions during the 1st quarter worth approximately $49,000. PNC Financial Services Group Inc. lifted its position in UL Solutions by 18.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock worth $61,000 after acquiring an additional 133 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of UL Solutions by 112.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after purchasing an additional 479 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ULS shares. BNP Paribas Exane started coverage on UL Solutions in a research note on Monday, April 20th. They set a “neutral” rating and a $95.00 price target for the company. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a research report on Wednesday, May 6th. Weiss Ratings raised shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.54.

UL Solutions Stock Down 3.0%

ULS stock opened at $91.27 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50 day simple moving average is $95.64 and its 200-day simple moving average is $84.90. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The firm has a market capitalization of $18.40 billion, a PE ratio of 53.38, a P/E/G ratio of 3.66 and a beta of 0.63.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data 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. The firm had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. Equities analysts expect that UL Solutions Inc. will post 2.1 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The business also recently disclosed 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 is currently 33.92%.

Insider Buying and Selling at UL Solutions

In related 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 completion of the sale, the executive vice president owned 10,307 shares in the company, 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 this hyperlink. Also, insider Gitte Schjotz sold 9,865 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 59,341 shares of the company’s stock, valued at $5,754,890.18. The trade was a 14.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 65,705 shares of company stock valued at $6,288,800. 1.20% of the stock is owned by company insiders.

UL Solutions Profile

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.