Principal Financial Group Inc. Purchases 10,571 Shares of UL Solutions Inc. $ULS

Principal Financial Group Inc. grew its position in UL Solutions Inc. (NYSE:ULS) by 6.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 170,337 shares of the company’s stock after buying an additional 10,571 shares during the period. Principal Financial Group Inc. owned 0.08% of UL Solutions worth $14,600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors boosted its holdings in UL Solutions by 6.6% in the fourth quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock valued at $634,616,000 after acquiring an additional 495,424 shares during the last quarter. Vanguard Group Inc. increased its position in 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 purchasing an additional 1,213,188 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in UL Solutions by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after purchasing an additional 545,528 shares during the last quarter. Janus Henderson Group PLC raised its holdings in UL Solutions by 1.8% during the 4th quarter. Janus Henderson Group PLC now owns 3,024,820 shares of the company’s stock worth $238,538,000 after purchasing an additional 54,910 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in UL Solutions by 3.3% during the 4th quarter. Bessemer Group Inc. now owns 2,221,669 shares of the company’s stock valued at $175,203,000 after purchasing an additional 70,279 shares during the period.

Insider Buying and Selling

In other UL Solutions news, insider Gitte Schjotz sold 9,865 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $96.98, for a total value of $956,707.70. Following the sale, the insider directly owned 59,341 shares in the company, valued at approximately $5,754,890.18. This trade represents a 14.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Karen K. Pepping sold 725 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total transaction of $70,861.50. Following the completion of the transaction, the chief accounting officer directly owned 8,082 shares of the company’s stock, valued at $789,934.68. This trade represents a 8.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 65,705 shares of company stock valued at $6,460,300. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on ULS shares. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Wednesday, May 6th. Wall Street Zen raised shares of UL Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. BNP Paribas Exane started coverage on shares of UL Solutions in a report on Monday, April 20th. They issued a “neutral” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

UL Solutions Price Performance

Shares of ULS opened at $86.62 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The stock has a market cap of $17.46 billion, a P/E ratio of 50.65, a price-to-earnings-growth ratio of 3.35 and a beta of 0.63. The stock’s 50-day moving average price is $94.84 and its two-hundred day moving average price is $86.96.

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

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were paid a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.

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.