7,546 Shares in UL Solutions Inc. (NYSE:ULS) Acquired by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 7,546 shares of the company’s stock, valued at approximately $376,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in UL Solutions during the 3rd quarter valued at $2,086,000. Victory Capital Management Inc. boosted its stake in UL Solutions by 377.1% during the 3rd quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock valued at $1,161,000 after purchasing an additional 18,606 shares in the last quarter. Renaissance Capital LLC boosted its stake in UL Solutions by 108.5% during the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock valued at $4,370,000 after purchasing an additional 45,595 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock valued at $222,658,000 after purchasing an additional 1,022,851 shares in the last quarter. Finally, Maven Securities LTD acquired a new stake in shares of UL Solutions during the 3rd quarter valued at $4,930,000.

Analysts Set New Price Targets

ULS has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. The Goldman Sachs Group increased their price objective on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, Citigroup increased their price objective on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, UL Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.45.

Insider Activity at UL Solutions

In related news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction on Friday, March 7th. The stock was sold at an average price of $53.00, for a total transaction of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares of the company’s stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

UL Solutions Stock Performance

Shares of UL Solutions stock opened at $53.42 on Friday. The stock has a market cap of $10.69 billion and a PE ratio of 32.97. The business has a fifty day simple moving average of $53.32 and a 200-day simple moving average of $51.89. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a 12 month low of $33.15 and a 12 month high of $59.23.

UL Solutions (NYSE:ULS) last issued its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.38 by $0.11. The business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. On average, sell-side analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio (DPR) is 32.10%.

About UL Solutions

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.