Northwest & Ethical Investments L.P. Purchases 400 Shares of UL Solutions Inc. (NYSE:ULS)

Northwest & Ethical Investments L.P. raised its position in shares of UL Solutions Inc. (NYSE:ULS) by 23.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,100 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in UL Solutions were worth $105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ULS. Magnetar Financial LLC bought a new stake in UL Solutions during the fourth quarter valued at approximately $376,000. Thrivent Financial for Lutherans bought a new stake in shares of UL Solutions during the 4th quarter valued at $677,000. Picton Mahoney Asset Management increased its stake in shares of UL Solutions by 18.6% in the 4th quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company’s stock worth $5,722,000 after purchasing an additional 18,019 shares in the last quarter. Swiss National Bank raised its holdings in UL Solutions by 7.6% in the 4th quarter. Swiss National Bank now owns 121,700 shares of the company’s stock worth $6,070,000 after purchasing an additional 8,600 shares during the period. Finally, Burkehill Global Management LP bought a new position in UL Solutions in the 4th quarter worth $24,940,000.

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 value of $102,714.00. Following the sale, the executive vice president now owns 9,285 shares of the company’s stock, valued at $492,105. The trade was a 17.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

UL Solutions Trading Down 0.6 %

Shares of ULS opened at $53.42 on Friday. The firm has a market cap of $10.69 billion and a P/E 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 Inc. has a 1 year low of $33.15 and a 1 year high of $59.23. The company has a 50 day simple moving average of $53.32 and a two-hundred day simple moving average of $51.89.

UL Solutions (NYSE:ULS) last posted 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. The company had revenue of $739.00 million during 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 analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were given a $0.13 dividend. This is an increase 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%. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions’s payout ratio is currently 32.10%.

Analyst Ratings Changes

A number of analysts have commented on ULS shares. 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. The Goldman Sachs Group increased their target price 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. Finally, Citigroup lifted their price target 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, UL Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $51.45.

UL Solutions 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.