UL Solutions Inc. (NYSE:ULS) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 33.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,363 shares of the company's stock after purchasing an additional 7,823 shares during the period. Victory Capital Management Inc.'s holdings in UL Solutions were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ULS. JPMorgan Chase & Co. raised its position in shares of UL Solutions by 29.3% during 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 in the last quarter. FMR LLC raised its position in shares of UL Solutions by 6.9% during the 3rd quarter. FMR LLC now owns 3,565,238 shares of the company's stock worth $175,766,000 after acquiring an additional 230,886 shares in the last quarter. Soros Fund Management LLC raised its position in shares of UL Solutions by 127.4% during the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company's stock worth $56,058,000 after acquiring an additional 637,077 shares in the last quarter. Zimmer Partners LP raised its position in shares of UL Solutions by 136.7% during the 3rd quarter. Zimmer Partners LP now owns 710,000 shares of the company's stock worth $35,003,000 after acquiring an additional 410,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of UL Solutions by 133.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 700,000 shares of the company's stock worth $34,510,000 after acquiring an additional 400,000 shares in the last quarter.

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UL Solutions Stock Performance

Shares of ULS stock traded down $0.31 during midday trading on Friday, hitting $53.42. The company had a trading volume of 1,463,209 shares, compared to its average volume of 722,234. The company's 50 day simple moving average is $53.32 and its 200 day simple moving average is $51.90. UL Solutions Inc. has a 52-week low of $33.15 and a 52-week high of $59.23. The stock has a market cap of $10.69 billion and a price-to-earnings ratio of 32.97. 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 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. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The company had revenue of $739.00 million for the quarter, compared to the consensus estimate of $726.54 million. Research analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This is an increase from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions's dividend payout ratio (DPR) is 32.10%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ULS shares. Citigroup raised their target price on UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group raised their target price 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, JPMorgan Chase & Co. raised their target price on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.45.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions 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 transaction, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $492,105. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a document filed 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.