UL Solutions Inc. (NYSE:ULS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,391,729 shares of the company's stock after selling 124,651 shares during the period. JPMorgan Chase & Co. owned about 2.19% of UL Solutions worth $219,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ULS. Charles Schwab Investment Management Inc. grew its position in UL Solutions by 52.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company's stock valued at $16,895,000 after acquiring an additional 117,794 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of UL Solutions in the third quarter worth about $278,000. FMR LLC increased its stake in UL Solutions by 6.9% in the 3rd quarter. FMR LLC now owns 3,565,238 shares of the company's stock worth $175,766,000 after buying an additional 230,886 shares during the period. BNP Paribas Financial Markets bought a new stake in UL Solutions during the 3rd quarter valued at about $3,723,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in UL Solutions in the 3rd quarter valued at about $372,000.

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 1,938 shares of the firm's 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 sale, the executive vice president now owns 9,285 shares of the company's stock, valued at $492,105. This trade represents a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Remove Ads

Wall Street Analyst Weigh In

ULS has been the topic of a number of research reports. Citigroup raised their target price 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. The Goldman Sachs Group increased their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. upped 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.45.

UL Solutions Stock Down 5.2 %

Shares of NYSE:ULS traded down $2.97 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 firm has a market capitalization of $10.89 billion and a PE ratio of 33.59. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a 52-week low of $33.15 and a 52-week high of $59.23. The firm's 50 day simple moving average is $54.05 and its 200-day simple moving average is $52.35.

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

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.96%. This is an increase from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. UL Solutions's dividend payout ratio (DPR) 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.