Picton Mahoney Asset Management Buys 18,019 Shares of UL Solutions Inc. (NYSE:ULS)

Picton Mahoney Asset Management raised its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 18.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 114,721 shares of the company's stock after buying an additional 18,019 shares during the period. Picton Mahoney Asset Management owned about 0.06% of UL Solutions worth $5,722,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of UL Solutions in the 3rd quarter worth $2,086,000. Victory Capital Management Inc. boosted its position in shares of UL Solutions by 377.1% in the 3rd quarter. Victory Capital Management Inc. now owns 23,540 shares of the company's stock worth $1,161,000 after purchasing an additional 18,606 shares during the last quarter. Renaissance Capital LLC boosted its position in shares of UL Solutions by 108.5% in the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock worth $4,370,000 after purchasing an additional 45,595 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the last quarter. Finally, Maven Securities LTD bought a new position in shares of UL Solutions in the 3rd quarter worth $4,930,000.

Insider Activity at UL Solutions

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 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. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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UL Solutions Stock Down 0.2 %

Shares of ULS traded down $0.12 during midday trading on Thursday, hitting $53.67. The stock had a trading volume of 528,280 shares, compared to its average volume of 719,247. The company has a 50 day simple moving average of $53.15 and a two-hundred day simple moving average of $51.90. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $59.23. The firm has a market cap of $10.74 billion and a price-to-earnings ratio of 33.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.

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, 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 company had revenue of $739.00 million for the quarter, compared to analysts' expectations of $726.54 million. On average, analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were paid a $0.13 dividend. 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. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. UL Solutions's dividend payout ratio (DPR) is currently 32.10%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ULS shares. Citigroup raised their price target 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 lifted their target price on 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. lifted their target price on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.45.

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.