Sei Investments Co. Sells 12,118 Shares of UL Solutions Inc. (NYSE:ULS)

Sei Investments Co. lessened its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 41.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,976 shares of the company's stock after selling 12,118 shares during the period. Sei Investments Co.'s holdings in UL Solutions were worth $847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after purchasing an additional 582 shares during the period. Northwest & Ethical Investments L.P. grew its stake in UL Solutions by 23.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock worth $105,000 after buying an additional 400 shares in the last quarter. KBC Group NV acquired a new position in shares of UL Solutions in the 4th quarter valued at approximately $163,000. Sanctuary Advisors LLC bought a new stake in shares of UL Solutions during the 4th quarter worth approximately $221,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of UL Solutions during the 3rd quarter worth approximately $278,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Citigroup lifted their price objective on UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group upped their price target on shares of UL Solutions from $51.00 to $57.00 and gave the company 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 has a consensus rating of "Moderate Buy" and an average target price of $51.45.

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UL Solutions Stock Up 2.6 %

ULS stock traded up $1.44 during midday trading on Friday, reaching $56.31. 1,226,694 shares of the company's stock traded hands, compared to its average volume of 727,488. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm's fifty day moving average price is $54.14 and its 200-day moving average price is $52.60. The company has a market cap of $11.27 billion and a price-to-earnings ratio of 34.76. 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 released its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $726.54 million. As a group, sell-side analysts forecast 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. The ex-dividend date was Friday, February 28th. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 0.92%. UL Solutions's payout ratio is presently 32.10%.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions 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 completion of the sale, the executive vice president now owns 9,285 shares of the company's stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

About UL Solutions

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.