Northwest & Ethical Investments L.P. Raises Stock Position in UL Solutions Inc. (NYSE:ULS)

Northwest & Ethical Investments L.P. grew its stake in UL Solutions Inc. (NYSE:ULS) by 23.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in UL Solutions were worth $105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in UL Solutions by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after buying an additional 1,022,851 shares in the last quarter. Soros Fund Management LLC raised its position in shares of UL Solutions by 127.4% in the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock worth $56,058,000 after acquiring an additional 637,077 shares in the last quarter. Port Capital LLC bought a new position in shares of UL Solutions in the 3rd quarter worth approximately $25,675,000. Burkehill Global Management LP purchased a new position in shares of UL Solutions in the 4th quarter valued at approximately $24,940,000. Finally, Zimmer Partners LP boosted its position in shares of UL Solutions by 136.7% during the third quarter. Zimmer Partners LP now owns 710,000 shares of the company’s stock valued at $35,003,000 after purchasing an additional 410,000 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the sale, the executive vice president now directly owns 9,285 shares in the company, valued at $492,105. The trade was a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

UL Solutions Trading Down 0.6 %

Shares of NYSE ULS opened at $53.42 on Friday. The firm’s 50 day moving average price is $53.32 and its 200-day moving average price is $51.89. UL Solutions Inc. has a 52-week low of $33.15 and a 52-week high of $59.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $10.69 billion and a PE ratio of 32.97.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.11. The business had revenue of $739.00 million for 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, equities research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

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

UL Solutions Company Profile

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.