Magnetar Financial LLC Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Magnetar Financial LLC purchased a new position in UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,546 shares of the company’s stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Thrivent Financial for Lutherans acquired a new stake in shares of UL Solutions in the fourth quarter worth about $677,000. Picton Mahoney Asset Management lifted its position in shares of UL Solutions by 18.6% in the fourth quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company’s stock worth $5,722,000 after buying an additional 18,019 shares during the last quarter. Swiss National Bank lifted its position in shares of UL Solutions by 7.6% in the fourth quarter. Swiss National Bank now owns 121,700 shares of the company’s stock worth $6,070,000 after buying an additional 8,600 shares during the last quarter. Burkehill Global Management LP acquired a new stake in shares of UL Solutions in the fourth quarter worth about $24,940,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of UL Solutions by 130.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,438 shares of the company’s stock worth $870,000 after buying an additional 9,884 shares during the last quarter.

UL Solutions Trading Down 0.6 %

Shares of ULS opened at $53.42 on Friday. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $10.69 billion and a price-to-earnings ratio of 32.97. The stock’s 50-day moving average price is $53.32 and its 200 day moving average price is $51.89.

UL Solutions (NYSE:ULS) 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. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. As a group, research analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.97%. 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. UL Solutions’s payout ratio is currently 32.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ULS shares. Citigroup lifted 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. lifted their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group lifted their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.45.

Insider Activity 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 transaction of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at approximately $492,105. The trade was a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

UL Solutions Company 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.