Legal & General Group Plc lessened its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,230 shares of the company's stock after selling 5,032 shares during the quarter. Legal & General Group Plc's holdings in UL Solutions were worth $2,605,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in UL Solutions during the fourth quarter worth about $173,869,000. JPMorgan Chase & Co. boosted its position in shares of UL Solutions by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock worth $222,658,000 after acquiring an additional 1,022,851 shares during the last quarter. Wellington Management Group LLP purchased a new stake in UL Solutions in the fourth quarter valued at approximately $32,091,000. FMR LLC increased its position 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 purchasing an additional 612,834 shares during the last quarter. Finally, Burkehill Global Management LP purchased a new position in UL Solutions during the fourth quarter worth approximately $24,940,000.
UL Solutions Trading Up 1.8 %
ULS opened at $56.50 on Thursday. The firm has a market capitalization of $11.31 billion and a P/E ratio of 34.88. The firm's 50 day moving average is $54.21 and its 200-day moving average is $52.90. 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 52-week low of $33.50 and a 52-week high of $59.23.
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. The firm had revenue of $739.00 million for 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%. Analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.
UL Solutions Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Friday, February 28th. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio (DPR) is 32.10%.
Insiders Place Their Bets
In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the firm'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 directly owns 9,285 shares of the company's stock, valued at $492,105. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by company insiders.
Analyst Ratings Changes
Several brokerages have recently issued reports on ULS. JPMorgan Chase & Co. upped their price objective on 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 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. Finally, Citigroup boosted their target price on UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, UL Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $51.45.
Read Our Latest Stock Analysis on ULS
About UL Solutions
(
Free Report)
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.
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