Boothbay Fund Management LLC Trims Holdings in UL Solutions Inc. (NYSE:ULS)

Boothbay Fund Management LLC lowered its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 84.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,253 shares of the company’s stock after selling 76,931 shares during the period. Boothbay Fund Management LLC’s holdings in UL Solutions were worth $711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in UL Solutions in the 4th quarter valued at about $173,869,000. T. Rowe Price Investment Management Inc. grew its stake in shares of UL Solutions by 88.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company’s stock valued at $210,729,000 after purchasing an additional 1,987,295 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of UL Solutions by 29.3% in the third 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 during the period. Capital International Investors raised its stake in shares of UL Solutions by 7.4% during the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company’s stock worth $583,324,000 after purchasing an additional 809,779 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of UL Solutions during the fourth quarter worth $32,091,000.

UL Solutions Stock Down 0.9 %

Shares of NYSE:ULS opened at $56.83 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $11.38 billion and a P/E ratio of 35.08. UL Solutions Inc. has a 52-week low of $34.35 and a 52-week high of $59.23. The stock’s fifty day simple moving average is $54.34 and its 200-day simple moving average is $53.09.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. The company had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. As a group, equities research analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were given a $0.13 dividend. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions’s dividend payout ratio (DPR) is 32.10%.

Insider Activity at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.