Magnetar Financial LLC Invests $376,000 in UL Solutions Inc. (NYSE:ULS)

Magnetar Financial LLC purchased 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 filing with the SEC. The firm purchased 7,546 shares of the company's stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Stifel Financial Corp lifted its position in UL Solutions by 1.6% during the third quarter. Stifel Financial Corp now owns 30,500 shares of the company's stock valued at $1,504,000 after purchasing an additional 485 shares during the last quarter. Stone House Investment Management LLC bought a new position in UL Solutions in the third quarter valued at $25,000. PNC Financial Services Group Inc. raised its position in 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 in the last quarter. Lisanti Capital Growth LLC lifted its stake in UL Solutions by 0.7% during the fourth quarter. Lisanti Capital Growth LLC now owns 93,620 shares of the company's stock worth $4,670,000 after purchasing an additional 690 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of UL Solutions by 15.5% in the 3rd quarter. XTX Topco Ltd now owns 7,733 shares of the company's stock worth $381,000 after purchasing an additional 1,035 shares in the last quarter.

UL Solutions Trading Up 1.2 %

Shares of UL Solutions stock traded up $0.64 during midday trading on Thursday, reaching $55.54. 1,279,486 shares of the company's stock traded hands, compared to its average volume of 724,000. The company has a market cap of $11.12 billion and a PE ratio of 34.29. The stock has a 50 day moving average of $53.55 and a 200-day moving average of $51.98. UL Solutions Inc. has a 12 month low of $33.15 and a 12 month high of $59.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31.

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UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.49 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 during the quarter, compared to analysts' expectations of $726.54 million. As a group, equities analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.94%. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio is currently 32.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ULS. Citigroup boosted their target price on UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group increased their target price on shares of UL Solutions from $51.00 to $57.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, UL Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.45.

Insider Activity

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the transaction, the executive vice president now owns 9,285 shares in the company, valued at approximately $492,105. This represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.