Reynders McVeigh Capital Management LLC Boosts Stake in UL Solutions Inc. (NYSE:ULS)

Reynders McVeigh Capital Management LLC grew its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 28.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 473,212 shares of the company's stock after acquiring an additional 104,503 shares during the period. Reynders McVeigh Capital Management LLC owned 0.24% of UL Solutions worth $23,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ULS. Norges Bank bought a new position in shares of UL Solutions in the fourth quarter worth approximately $173,869,000. JPMorgan Chase & Co. lifted its stake in shares of UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after buying an additional 1,022,851 shares in the last quarter. Wellington Management Group LLP bought a new position in UL Solutions in the 4th quarter worth $32,091,000. FMR LLC increased its stake in UL Solutions by 17.2% in the 4th quarter. FMR LLC now owns 4,178,072 shares of the company's stock worth $208,402,000 after buying an additional 612,834 shares in the last quarter. Finally, Burkehill Global Management LP purchased a new stake in UL Solutions in the 4th quarter worth $24,940,000.

UL Solutions Price Performance

Shares of ULS stock traded up $0.16 on Tuesday, reaching $57.65. The company's stock had a trading volume of 1,104,521 shares, compared to its average volume of 720,351. The stock's fifty day simple moving average is $54.25 and its 200-day simple moving average is $52.69. UL Solutions Inc. has a 1 year low of $33.50 and a 1 year high of $59.23. The company has a market capitalization of $11.54 billion and a price-to-earnings ratio of 35.59. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85.

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

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is an increase from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 0.90%. UL Solutions's dividend payout ratio is 32.10%.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction 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 sale, the executive vice president now owns 9,285 shares in the company, valued at approximately $492,105. This represents a 17.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

ULS has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price target on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Citigroup lifted their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, UL Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $51.45.

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.