Bank of New York Mellon Corp Grows Stock Position in UL Solutions Inc. (NYSE:ULS)

Bank of New York Mellon Corp raised its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 532.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,632 shares of the company's stock after acquiring an additional 120,097 shares during the period. Bank of New York Mellon Corp owned approximately 0.07% of UL Solutions worth $7,114,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ULS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of UL Solutions during the third quarter valued at about $2,086,000. Victory Capital Management Inc. boosted its stake in UL Solutions by 377.1% during the third quarter. Victory Capital Management Inc. now owns 23,540 shares of the company's stock valued at $1,161,000 after buying an additional 18,606 shares during the last quarter. Renaissance Capital LLC grew its holdings in UL Solutions by 108.5% during the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock valued at $4,370,000 after buying an additional 45,595 shares in the last quarter. JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 1,022,851 shares during the last quarter. Finally, Maven Securities LTD purchased a new stake in shares of UL Solutions during the 3rd quarter worth approximately $4,930,000.

UL Solutions Trading Down 0.2 %

Shares of NYSE ULS traded down $0.13 during trading hours on Tuesday, hitting $52.27. 8,741 shares of the company traded hands, compared to its average volume of 719,903. The stock has a market capitalization of $10.46 billion and a price-to-earnings ratio of 32.26. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The company's 50 day moving average price is $53.01 and its 200 day moving average price is $51.90. UL Solutions Inc. has a 12 month low of $33.15 and a 12 month high of $59.23.

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UL Solutions (NYSE:ULS - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. On average, equities research analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.99%. 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 dividend payout ratio is 32.10%.

Insider Buying and Selling at UL Solutions

In related news, EVP Alberto Uggetti sold 1,938 shares of the company's 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 completion of the sale, the executive vice president now directly owns 9,285 shares in the company, valued at $492,105. This represents a 17.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analyst Weigh In

ULS has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of 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 target price on shares of UL Solutions from $51.00 to $57.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Finally, Citigroup lifted 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. Four investment 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.