UL Solutions Inc. $ULS Shares Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. boosted its holdings in UL Solutions Inc. (NYSE:ULS) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,878,995 shares of the company’s stock after buying an additional 545,528 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in UL Solutions were worth $463,618,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of UL Solutions by 119.5% during the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock valued at $8,090,000 after acquiring an additional 78,081 shares during the last quarter. Goldman Sachs Group Inc. increased its position in UL Solutions by 104.3% during the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $25,953,000 after purchasing an additional 234,913 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in UL Solutions by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock worth $6,981,000 after purchasing an additional 13,205 shares during the period. Rhumbline Advisers purchased a new position in UL Solutions during the first quarter worth approximately $49,000. Finally, Creative Planning acquired a new position in shares of UL Solutions in the 2nd quarter valued at $208,000.

UL Solutions Stock Down 3.0%

Shares of NYSE:ULS opened at $91.27 on Friday. 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 Inc. has a 52-week low of $61.64 and a 52-week high of $107.54. The company has a 50 day moving average of $95.64 and a two-hundred day moving average of $84.90. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of 53.38, a price-to-earnings-growth ratio of 3.66 and a beta of 0.63.

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

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s payout ratio is presently 33.92%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zacks Research raised shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Raymond James Financial reiterated an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. UBS Group boosted their price target on UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price target on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Robert W. Baird cut their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, UL Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

Insider Buying and Selling at UL Solutions

In related news, CAO Karen K. Pepping sold 725 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value of $70,861.50. Following the transaction, the chief accounting officer owned 8,082 shares in the company, valued at approximately $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gitte Schjotz sold 9,865 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $96.98, for a total value 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. This represents a 14.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 65,705 shares of company stock valued at $6,288,800. Company 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.