Trexquant Investment LP Buys Shares of 58,097 UL Solutions Inc. (NYSE:ULS)

Trexquant Investment LP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 58,097 shares of the company’s stock, valued at approximately $2,898,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in UL Solutions during the 3rd quarter worth approximately $2,086,000. Renaissance Capital LLC lifted its holdings in shares of UL Solutions by 108.5% during the fourth quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock worth $4,370,000 after purchasing an additional 45,595 shares during the period. JPMorgan Chase & Co. grew its stake in shares of UL Solutions by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the last quarter. State Street Corp increased its holdings in UL Solutions by 85.3% in the third quarter. State Street Corp now owns 269,616 shares of the company’s stock valued at $13,292,000 after purchasing an additional 124,116 shares during the period. Finally, Picton Mahoney Asset Management increased its holdings in UL Solutions by 18.6% in the fourth quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company’s stock valued at $5,722,000 after purchasing an additional 18,019 shares during the period.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares of the company’s stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Citigroup upped their target price on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group raised their price target 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. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and a consensus price target of $51.45.

UL Solutions Stock Down 1.2 %

UL Solutions stock opened at $53.74 on Tuesday. The company has a market capitalization of $10.76 billion and a PE ratio of 33.17. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. The firm’s fifty day moving average is $54.07 and its 200 day moving average is $52.40. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. The company 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%. As a group, sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

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

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.