Raymond James Financial Inc. Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Raymond James Financial Inc. acquired a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 367,774 shares of the company's stock, valued at approximately $18,345,000. Raymond James Financial Inc. owned approximately 0.18% of UL Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Stone House Investment Management LLC bought a new stake in shares of UL Solutions during the third quarter valued at about $25,000. Northwest & Ethical Investments L.P. bought a new stake in UL Solutions during the 3rd quarter worth approximately $84,000. KBC Group NV bought a new stake in UL Solutions during the 4th quarter worth approximately $163,000. Sanctuary Advisors LLC bought a new position in UL Solutions in the 4th quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of UL Solutions during the 3rd quarter valued at $278,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. 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 report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, Citigroup lifted their price target on UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a research 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. According to data from MarketBeat, UL Solutions has an average rating of "Moderate Buy" and a consensus price target of $51.45.

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UL Solutions Trading Down 0.6 %

Shares of NYSE:ULS traded down $0.31 on Friday, reaching $53.42. 1,462,093 shares of the company traded hands, compared to its average volume of 722,383. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $59.23. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The business's 50-day simple moving average is $53.24 and its 200 day simple moving average is $51.91. The stock has a market capitalization of $10.69 billion and a P/E ratio of 32.97.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates 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. As a group, equities analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. 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 0.97%. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions's dividend payout ratio is currently 32.10%.

Insiders Place Their Bets

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was 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 of the company's stock, valued at $492,105. This represents a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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.