Norges Bank Purchases New Position in UL Solutions Inc. (NYSE:ULS)

Norges Bank acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,485,746 shares of the company's stock, valued at approximately $173,869,000. Norges Bank owned about 1.74% of UL Solutions as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Northwest & Ethical Investments L.P. increased its stake in UL Solutions by 23.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after acquiring an additional 400 shares during the period. Stifel Financial Corp grew its holdings in UL Solutions by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 30,500 shares of the company's stock worth $1,504,000 after acquiring an additional 485 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after purchasing an additional 582 shares during the last quarter. Lisanti Capital Growth LLC increased its stake in shares of UL Solutions by 0.7% in the 4th quarter. Lisanti Capital Growth LLC now owns 93,620 shares of the company's stock valued at $4,670,000 after buying an additional 690 shares during the period. Finally, XTX Topco Ltd increased its position in UL Solutions by 15.5% in the third quarter. XTX Topco Ltd now owns 7,733 shares of the company's stock worth $381,000 after purchasing an additional 1,035 shares during the period.

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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 stock was sold at an average price of $53.00, for a total transaction of $102,714.00. Following the completion of the transaction, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $492,105. The trade was a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

ULS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price 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 objective on UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group increased their target price on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $51.45.

UL Solutions Stock Down 5.2 %

ULS stock traded down $2.97 during mid-day trading on Friday, reaching $54.41. The company had a trading volume of 2,693,849 shares, compared to its average volume of 765,962. The company has a market capitalization of $10.89 billion and a price-to-earnings ratio of 33.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $59.23. The stock has a 50 day simple moving average of $54.05 and a two-hundred day simple moving average of $52.33.

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

UL Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

UL Solutions 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.