T. Rowe Price Investment Management Inc. Purchases 1,987,295 Shares of UL Solutions Inc. (NYSE:ULS)

T. Rowe Price Investment Management Inc. raised its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 88.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,224,709 shares of the company's stock after acquiring an additional 1,987,295 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.11% of UL Solutions worth $210,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in UL Solutions by 653.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after purchasing an additional 582 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after purchasing an additional 400 shares during the period. KBC Group NV acquired a new stake in UL Solutions in the 4th quarter worth $163,000. Signature Estate & Investment Advisors LLC acquired a new stake in UL Solutions in the 4th quarter worth $201,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of UL Solutions during the fourth quarter valued at about $221,000.

Analysts Set New Price Targets

ULS has been the topic of a number of recent research reports. Citigroup lifted their target price on 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 raised their price objective on shares of UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.45.

Insider Buying and Selling

In related news, EVP Alberto Uggetti sold 1,938 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $56.50 on Thursday. The stock has a market capitalization of $11.31 billion and a price-to-earnings ratio of 34.88. The firm's 50-day moving average price is $54.21 and its two-hundred day moving average price is $52.90. 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 1-year low of $33.50 and a 1-year 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 earnings per share 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 firm had revenue of $739.00 million during the quarter, compared to analysts' expectations of $726.54 million. On average, equities analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. UL Solutions's payout ratio is currently 32.10%.

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.

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