Renaissance Technologies LLC Increases Stake in UL Solutions Inc. (NYSE:ULS)

Renaissance Technologies LLC raised its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,592 shares of the company's stock after buying an additional 64,292 shares during the period. Renaissance Technologies LLC owned 0.21% of UL Solutions worth $21,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its holdings in UL Solutions by 17.2% during the 4th 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. Federated Hermes Inc. raised its holdings in shares of UL Solutions by 56.1% in the 4th quarter. Federated Hermes Inc. now owns 644,800 shares of the company's stock worth $32,163,000 after acquiring an additional 231,800 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of UL Solutions by 1,062.7% in the fourth quarter. Russell Investments Group Ltd. now owns 40,694 shares of the company's stock valued at $2,030,000 after purchasing an additional 37,194 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of UL Solutions by 22.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 168,985 shares of the company's stock valued at $8,429,000 after purchasing an additional 31,270 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of UL Solutions in the fourth quarter valued at approximately $332,000.

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Insider Buying and Selling

In other news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $492,105. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ULS. 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. Citigroup upped 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. Finally, JPMorgan Chase & Co. boosted their target price on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.45.

UL Solutions Trading Up 0.3 %

ULS traded up $0.16 on Tuesday, hitting $57.65. 1,104,521 shares of the company were exchanged, compared to its average volume of 720,350. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a fifty day simple moving average of $54.18 and a two-hundred day simple moving average of $52.66. The stock has a market capitalization of $11.54 billion and a PE ratio of 35.59. UL Solutions Inc. has a 12 month low of $33.50 and a 12 month high of $59.23.

UL Solutions (NYSE:ULS - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The firm had revenue of $739.00 million for the quarter, compared to analysts' expectations of $726.54 million. Sell-side analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders 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 dividend yield of 0.90%. The ex-dividend date was Friday, February 28th. UL Solutions's dividend payout ratio is currently 32.10%.

UL Solutions Company 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.