Federated Hermes Inc. Has $32.16 Million Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Federated Hermes Inc. boosted its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 56.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 644,800 shares of the company's stock after purchasing an additional 231,800 shares during the period. Federated Hermes Inc. owned approximately 0.32% of UL Solutions worth $32,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after acquiring an additional 582 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in UL Solutions by 23.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock worth $105,000 after purchasing an additional 400 shares during the period. KBC Group NV acquired a new position in UL Solutions in the fourth quarter valued at approximately $163,000. Signature Estate & Investment Advisors LLC acquired a new position in UL Solutions in the fourth quarter valued at approximately $201,000. Finally, Sanctuary Advisors LLC bought a new position in shares of UL Solutions during the fourth quarter valued at approximately $221,000.

Analyst Ratings Changes

A number of brokerages recently commented on ULS. Citigroup upped their price objective on UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. upped 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. Finally, The Goldman Sachs Group lifted their price objective 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. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, UL Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.45.

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Insider Transactions at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were 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 owns 9,285 shares of the company's stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

UL Solutions Price Performance

Shares of UL Solutions stock traded up $1.44 on Friday, hitting $56.31. The company had a trading volume of 1,226,694 shares, compared to its average volume of 727,488. UL Solutions Inc. has a 52 week low of $33.50 and a 52 week high of $59.23. 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 company has a market cap of $11.27 billion and a PE ratio of 34.76. The business has a 50-day simple moving average of $54.14 and a 200-day simple moving average of $52.60.

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 (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.11. The company had revenue of $739.00 million for the quarter, compared to analysts' expectations of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. Research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 0.92%. UL Solutions's payout ratio is currently 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.