Zurcher Kantonalbank Zurich Cantonalbank Acquires 9,884 Shares of UL Solutions Inc. (NYSE:ULS)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 130.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,438 shares of the company's stock after buying an additional 9,884 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in UL Solutions were worth $870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ULS. Stone House Investment Management LLC acquired a new stake in UL Solutions during the 3rd quarter worth approximately $25,000. PNC Financial Services Group Inc. raised its holdings 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 period. Northwest & Ethical Investments L.P. bought a new stake in UL Solutions in the 3rd quarter valued at $84,000. KBC Group NV acquired a new position in UL Solutions in the 4th quarter worth $163,000. Finally, Sanctuary Advisors LLC bought a new position in UL Solutions during the 4th quarter worth about $221,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ULS shares. The Goldman Sachs Group upped their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Citigroup lifted their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, UL Solutions has a consensus rating of "Moderate Buy" and an average target price of $51.45.

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UL Solutions Stock Performance

ULS stock traded up $0.22 during trading hours on Monday, reaching $53.72. The stock had a trading volume of 767,268 shares, compared to its average volume of 722,424. The stock has a 50-day simple moving average of $53.32 and a 200 day simple moving average of $51.89. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The stock has a market capitalization of $10.75 billion and a PE ratio of 33.16. 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 issued its 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 business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. Analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.97%. UL Solutions's payout ratio is presently 32.10%.

Insider Activity at UL Solutions

In other UL Solutions 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 directly owns 9,285 shares in the company, valued at $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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.