UL Solutions Inc. (NYSE:ULS) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in UL Solutions Inc. (NYSE:ULS) by 532.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 142,632 shares of the company’s stock after buying an additional 120,097 shares during the quarter. Bank of New York Mellon Corp owned about 0.07% of UL Solutions worth $7,114,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ULS. Stone House Investment Management LLC acquired a new position in UL Solutions in the 3rd quarter valued at $25,000. Northwest & Ethical Investments L.P. acquired a new position 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 valued at $163,000. Sanctuary Advisors LLC acquired a new position in UL Solutions in the 4th quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company acquired a new position in UL Solutions in the 3rd quarter valued at $278,000.

Wall Street Analysts Forecast Growth

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

UL Solutions Price Performance

UL Solutions stock opened at $52.33 on Friday. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week 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’s 50-day simple moving average is $52.94 and its 200 day simple moving average is $51.93. The firm has a market capitalization of $10.47 billion and a PE ratio of 32.30.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.38 by $0.11. The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, equities research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. UL Solutions’s dividend payout ratio is 32.10%.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were 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 represents a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.