Public Employees Retirement System of Ohio Buys New Shares in UL Solutions Inc. $ULS

Public Employees Retirement System of Ohio purchased a new position in UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,838 shares of the company’s stock, valued at approximately $2,428,000.

Several other institutional investors have also added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in shares of UL Solutions by 349.3% in the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after buying an additional 234 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares during the period. GAMMA Investing LLC grew its position in UL Solutions by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock worth $84,000 after acquiring an additional 245 shares during the last quarter. Rhumbline Advisers bought a new position in UL Solutions during the 1st quarter worth approximately $49,000. Finally, CIBC Private Wealth Group LLC increased its stake in UL Solutions by 112.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock worth $71,000 after purchasing an additional 479 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ULS. Citigroup lowered their price objective on UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a research report on Wednesday, August 5th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Wells Fargo & Company lowered their price objective on shares of UL Solutions from $120.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Finally, Robert W. Baird set a $95.00 target price on shares of UL Solutions in a report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and an average target price of $96.78.

Insider Activity at UL Solutions

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total transaction of $920,750.00. Following the sale, the chief executive officer owned 139,224 shares of the company’s stock, valued at $10,255,239.84. The trade was a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Karen K. Pepping sold 725 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total transaction of $70,861.50. Following the completion of the sale, the chief accounting officer owned 8,082 shares in the company, valued at approximately $789,934.68. This trade represents a 8.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 38,225 shares of company stock worth $3,382,862. Insiders own 1.20% of the company’s stock.

UL Solutions Stock Performance

NYSE:ULS opened at $73.84 on Friday. The stock has a market cap of $14.91 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 3.06 and a beta of 0.63. The firm’s fifty day simple moving average is $83.46 and its 200 day simple moving average is $87.82. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The business had revenue of $816.00 million during the quarter, compared to analyst estimates of $813.62 million. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts predict that UL Solutions Inc. will post 2.08 EPS for the current year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be issued a $0.145 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.58 annualized dividend and a yield of 0.8%. UL Solutions’s dividend payout ratio (DPR) is 23.48%.

UL Solutions Profile

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.