Bank of New York Mellon Corp Raises Holdings in UL Solutions Inc. (NYSE:ULS)

Bank of New York Mellon Corp boosted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 532.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,632 shares of the company's stock after purchasing an additional 120,097 shares during the quarter. Bank of New York Mellon Corp owned about 0.07% of UL Solutions worth $7,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ULS. Sanctuary Advisors LLC bought a new stake in shares of UL Solutions in the fourth quarter worth about $221,000. Legato Capital Management LLC increased its holdings in shares of UL Solutions by 40.0% in the fourth quarter. Legato Capital Management LLC now owns 13,695 shares of the company's stock worth $683,000 after acquiring an additional 3,910 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of UL Solutions in the fourth quarter worth about $1,202,000. Renaissance Capital LLC increased its holdings in shares of UL Solutions by 108.5% in the fourth quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock worth $4,370,000 after acquiring an additional 45,595 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of UL Solutions in the fourth quarter worth about $163,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. 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 report on Friday, February 21st. Finally, Citigroup upped their price objective on UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.45.

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Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at approximately $492,105. The trade was a 17.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions Stock Up 1.5 %

ULS traded up $0.80 during midday trading on Tuesday, reaching $53.19. 471,355 shares of the company were exchanged, compared to its average volume of 721,787. The company has a market cap of $10.65 billion and a price-to-earnings ratio of 32.83. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23. The company's fifty day moving average price is $53.01 and its 200 day moving average price is $51.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31.

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 net margin of 11.36% and a return on equity of 44.52%. The company had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. As a group, analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's payout ratio is presently 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.