Granite Investment Partners LLC Sells 7,365 Shares of UL Solutions Inc. (NYSE:ULS)

Granite Investment Partners LLC reduced its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,794 shares of the company's stock after selling 7,365 shares during the quarter. Granite Investment Partners LLC's holdings in UL Solutions were worth $2,783,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ULS. Ranger Investment Management L.P. bought a new position in UL Solutions during the fourth quarter valued at about $13,914,000. Raymond James Financial Inc. bought a new stake in shares of UL Solutions in the 4th quarter worth approximately $18,345,000. Renaissance Technologies LLC lifted its stake in UL Solutions by 17.7% during the fourth quarter. Renaissance Technologies LLC now owns 426,592 shares of the company's stock valued at $21,278,000 after purchasing an additional 64,292 shares during the last quarter. FMR LLC boosted its holdings in UL Solutions by 17.2% during the fourth quarter. FMR LLC now owns 4,178,072 shares of the company's stock worth $208,402,000 after buying an additional 612,834 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in UL Solutions by 56.1% in the fourth quarter. Federated Hermes Inc. now owns 644,800 shares of the company's stock worth $32,163,000 after buying an additional 231,800 shares during the last quarter.

Analysts Set New Price Targets

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

UL Solutions Stock Up 0.8 %

NYSE:ULS traded up $0.46 during mid-day trading on Friday, reaching $55.64. The stock had a trading volume of 971,718 shares, compared to its average volume of 704,171. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market cap of $11.14 billion and a P/E ratio of 34.34. The business's 50 day moving average is $54.30 and its 200 day moving average is $52.80. UL Solutions Inc. has a fifty-two week low of $33.50 and a fifty-two week high of $59.23.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $739.00 million during the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. As a group, sell-side analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 0.93%. The ex-dividend date was Friday, February 28th. UL Solutions's payout ratio is 32.10%.

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company's stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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.