Bank of New York Mellon Corp Has $7.11 Million Position in UL Solutions Inc. (NYSE:ULS)

Bank of New York Mellon Corp lifted its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 532.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,632 shares of the company's stock after acquiring an additional 120,097 shares during the quarter. Bank of New York Mellon Corp owned 0.07% of UL Solutions worth $7,114,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of UL Solutions by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after purchasing an additional 1,022,851 shares during the period. FMR LLC raised its holdings in shares of UL Solutions by 6.9% in the 3rd quarter. FMR LLC now owns 3,565,238 shares of the company's stock worth $175,766,000 after purchasing an additional 230,886 shares during the period. Soros Fund Management LLC grew its stake in shares of UL Solutions by 127.4% in the third quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company's stock valued at $56,058,000 after buying an additional 637,077 shares in the last quarter. Zimmer Partners LP grew its stake in shares of UL Solutions by 136.7% in the third quarter. Zimmer Partners LP now owns 710,000 shares of the company's stock valued at $35,003,000 after buying an additional 410,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of UL Solutions by 133.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 700,000 shares of the company's stock valued at $34,510,000 after buying an additional 400,000 shares in the last quarter.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their price target 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 boosted their price target on shares of UL Solutions from $60.00 to $60.50 and gave the stock 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, UL Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $51.45.

UL Solutions Stock Performance

NYSE:ULS traded up $0.42 during midday trading on Monday, reaching $52.66. The stock had a trading volume of 225,299 shares, compared to its average volume of 491,787. UL Solutions Inc. has a 1-year low of $33.15 and a 1-year high of $59.23. The firm's fifty day simple moving average is $52.94 and its 200-day simple moving average is $51.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $10.54 billion and a P/E ratio of 32.51.

UL Solutions (NYSE:ULS - Get Free Report) last issued 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 firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. On average, equities research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal 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 given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio (DPR) is 32.10%.

Insider Buying and Selling

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the firm'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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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.