Wells Fargo & Company MN Grows Stock Position in UL Solutions Inc. (NYSE:ULS)

Wells Fargo & Company MN increased its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 225,874 shares of the company's stock after purchasing an additional 6,727 shares during the period. Wells Fargo & Company MN owned approximately 0.11% of UL Solutions worth $11,267,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after purchasing an additional 401,492 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of UL Solutions by 29.3% in the 3rd 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. Norges Bank bought a new stake in shares of UL Solutions during the fourth quarter valued at approximately $173,869,000. Blair William & Co. IL raised its holdings in UL Solutions by 7.0% in the fourth quarter. Blair William & Co. IL now owns 774,059 shares of the company's stock worth $38,610,000 after purchasing an additional 50,875 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in UL Solutions during the fourth quarter valued at $32,091,000.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the sale, the executive vice president now owns 9,285 shares in the company, valued at $492,105. This represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company's stock.

UL Solutions Stock Performance

Shares of NYSE:ULS traded up $0.46 during midday trading on Friday, hitting $55.64. The company had a trading volume of 971,718 shares, compared to its average volume of 704,171. UL Solutions Inc. has a 12-month low of $33.50 and a 12-month high of $59.23. The company has a fifty day moving average of $54.30 and a two-hundred day moving average of $52.80. The company has a market cap of $11.14 billion and a price-to-earnings ratio of 34.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.38 by $0.11. The business had revenue of $739.00 million for 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%. On average, equities research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.93%. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

Wall Street Analysts Forecast Growth

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