Burkehill Global Management LP Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Burkehill Global Management LP purchased a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 500,000 shares of the company's stock, valued at approximately $24,940,000. UL Solutions comprises 2.4% of Burkehill Global Management LP's investment portfolio, making the stock its 9th biggest holding. Burkehill Global Management LP owned about 0.25% of UL Solutions as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after buying an additional 1,022,851 shares during the last quarter. FMR LLC increased its position in UL Solutions by 6.9% during the third quarter. FMR LLC now owns 3,565,238 shares of the company's stock worth $175,766,000 after acquiring an additional 230,886 shares during the period. Soros Fund Management LLC raised its stake in UL Solutions by 127.4% during the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company's stock valued at $56,058,000 after purchasing an additional 637,077 shares during the last quarter. Zimmer Partners LP raised its stake in UL Solutions by 136.7% during the 3rd quarter. Zimmer Partners LP now owns 710,000 shares of the company's stock valued at $35,003,000 after purchasing an additional 410,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in UL Solutions by 133.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 700,000 shares of the company's stock valued at $34,510,000 after purchasing an additional 400,000 shares during the period.

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Insider Activity at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction dated Friday, March 7th. The shares were 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 of the company's stock, valued at $492,105. This represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ULS shares. 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 report on Friday, February 21st. Citigroup upped their price target 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 lifted their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.45.

UL Solutions Price Performance

Shares of NYSE ULS traded down $0.15 during midday trading on Thursday, reaching $50.50. 228,703 shares of the company traded hands, compared to its average volume of 496,017. 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. The stock's 50-day simple moving average is $52.88 and its 200-day simple moving average is $51.97. The firm has a market cap of $10.11 billion and a PE ratio of 31.17.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. As a group, equities analysts anticipate 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 given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 1.03%. UL Solutions's dividend payout ratio is 32.10%.

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.