Allspring Global Investments Holdings LLC Has $147.53 Million Holdings in UL Solutions Inc. $ULS

Allspring Global Investments Holdings LLC lifted its stake in shares of UL Solutions Inc. (NYSE:ULS) by 12.5% in the 1st quarter, Holdings Channel reports. The fund owned 1,744,523 shares of the company’s stock after acquiring an additional 193,610 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UL Solutions were worth $147,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ULS. Ghisallo Capital Management LLC raised its stake in shares of UL Solutions by 1,299.3% in the 4th quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company’s stock valued at $110,347,000 after purchasing an additional 1,299,273 shares during the period. Vanguard Group Inc. boosted its position in UL Solutions by 21.9% during the 4th quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after acquiring an additional 1,213,188 shares during the last quarter. State Street Corp boosted its position in UL Solutions by 272.1% during the 4th quarter. State Street Corp now owns 1,460,723 shares of the company’s stock worth $115,193,000 after acquiring an additional 1,068,194 shares during the last quarter. Norges Bank bought a new position in shares of UL Solutions during the 4th quarter worth approximately $72,719,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of UL Solutions during the 4th quarter worth approximately $69,002,000.

UL Solutions Stock Up 2.3%

UL Solutions stock opened at $89.77 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50-day moving average is $96.10 and its 200-day moving average is $86.73. The firm has a market capitalization of $18.09 billion, a PE ratio of 52.50, a P/E/G ratio of 3.41 and a beta of 0.63. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. During the same period last year, the business posted $0.37 EPS. UL Solutions’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts anticipate that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio (DPR) is presently 33.92%.

Analyst Ratings Changes

A number of brokerages have recently commented on ULS. Citigroup boosted their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. BNP Paribas Exane assumed coverage on shares of UL Solutions in a research note on Monday, April 20th. They issued a “neutral” rating and a $95.00 price target on the stock. UBS Group raised shares of UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price objective on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.54.

Insider Activity at UL Solutions

In related news, CAO Karen K. Pepping sold 725 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total transaction of $70,861.50. Following the transaction, the chief accounting officer directly owned 8,082 shares of the company’s stock, valued at approximately $789,934.68. The trade was a 8.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gitte Schjotz sold 12,015 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total value of $1,198,015.65. Following the completion of the sale, the insider owned 69,206 shares in the company, valued at approximately $6,900,530.26. This trade represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,705 shares of company stock worth $6,460,300 in the last three months. 1.20% of the stock is owned by company insiders.

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.