American Century Companies Inc. Purchases 117,176 Shares of UL Solutions Inc. (NYSE:ULS)

American Century Companies Inc. raised its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 38.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 425,307 shares of the company's stock after buying an additional 117,176 shares during the period. American Century Companies Inc. owned about 0.21% of UL Solutions worth $21,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after acquiring an additional 582 shares during the period. Northwest & Ethical Investments L.P. bought a new position in shares of UL Solutions in the 3rd quarter worth approximately $84,000. KBC Group NV purchased a new position in shares of UL Solutions in the fourth quarter worth approximately $163,000. Sanctuary Advisors LLC bought a new stake in UL Solutions during the fourth quarter valued at approximately $221,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in UL Solutions during the third quarter valued at approximately $278,000.

UL Solutions Price Performance

NYSE:ULS traded up $0.24 during trading hours on Thursday, reaching $57.35. The stock had a trading volume of 1,206,533 shares, compared to its average volume of 758,093. The stock has a market capitalization of $11.48 billion and a PE ratio of 35.40. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $59.23. The company has a 50 day moving average price of $54.03 and a two-hundred day moving average price of $52.29. 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 issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The business had revenue of $739.00 million during the quarter, compared to analysts' expectations of $726.54 million. As a group, sell-side analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is an increase from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 0.91%. UL Solutions's dividend payout ratio is 32.10%.

Wall Street Analyst Weigh In

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

Insider Activity

In related 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 transaction of $102,714.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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.