KLP Kapitalforvaltning AS Purchases New Position in UL Solutions Inc. (NYSE:ULS)

KLP Kapitalforvaltning AS bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,100 shares of the company's stock, valued at approximately $604,000.

A number of other large investors have also made changes to their positions in ULS. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 117,794 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of UL Solutions in the third quarter valued at about $278,000. BNP Paribas Financial Markets acquired a new stake in UL Solutions during the third quarter worth about $3,723,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in UL Solutions during the third quarter worth about $372,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in UL Solutions during the third quarter worth about $2,086,000.

Insider Transactions at UL Solutions

In related news, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction 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. The trade was a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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UL Solutions Stock Down 5.2 %

UL Solutions stock traded down $2.97 during mid-day trading on Friday, reaching $54.41. 2,693,849 shares of the company's stock were exchanged, compared to its average volume of 765,962. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $59.23. The company has a market cap of $10.89 billion and a P/E ratio of 33.59. The company has a fifty day moving average of $54.03 and a 200-day moving average of $52.29.

UL Solutions (NYSE:ULS - Get Free Report) last announced 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. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $739.00 million for the quarter, compared to analysts' expectations of $726.54 million. Sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

Analysts Set New Price Targets

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

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.