Healthcare of Ontario Pension Plan Trust Fund Buys New Stake in UL Solutions Inc. $ULS

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 445,203 shares of the company’s stock, valued at approximately $35,109,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.22% of UL Solutions as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital International Investors raised its holdings in shares of UL Solutions by 6.6% in the fourth quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock worth $634,616,000 after buying an additional 495,424 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of UL Solutions by 21.9% in the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after buying an additional 1,213,188 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of UL Solutions by 20.6% in the third quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock worth $279,394,000 after buying an additional 674,088 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of UL Solutions by 3.3% in the fourth quarter. Bessemer Group Inc. now owns 2,221,669 shares of the company’s stock worth $175,203,000 after buying an additional 70,279 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of UL Solutions by 12.1% in the fourth 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 during the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of UL Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Bank of America lifted their price objective on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Telsey Advisory Group set a $100.00 price objective on shares of UL Solutions in a report on Wednesday, May 6th. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.54.

Insider Transactions at UL Solutions

In other news, EVP Alberto Uggetti sold 6,100 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 10,307 shares in the company, valued at approximately $1,030,700. This represents a 37.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gitte Schjotz sold 12,015 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the sale, the insider owned 69,206 shares in the company, valued at approximately $6,900,530.26. This trade represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 65,705 shares of company stock worth $6,288,800. 1.20% of the stock is owned by company insiders.

UL Solutions Stock Up 0.1%

ULS stock opened at $96.98 on Tuesday. The stock has a market capitalization of $19.55 billion, a P/E ratio of 56.71, a P/E/G ratio of 3.77 and a beta of 0.63. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54. The firm has a 50-day simple moving average of $95.03 and a 200-day simple moving average of $84.84. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

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

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued 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%.

UL Solutions Company 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.