Victory Capital Management Inc. Purchases 7,823 Shares of UL Solutions Inc. (NYSE:ULS)

Victory Capital Management Inc. grew its position in UL Solutions Inc. (NYSE:ULS) by 33.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,363 shares of the company’s stock after purchasing an additional 7,823 shares during the quarter. Victory Capital Management Inc.’s holdings in UL Solutions were worth $1,564,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ULS. Swiss National Bank bought a new position in shares of UL Solutions in the third quarter valued at approximately $5,576,000. Drive Wealth Management LLC bought a new position in UL Solutions during the third quarter worth $296,000. Charles Schwab Investment Management Inc. increased its position in UL Solutions by 52.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company’s stock worth $16,895,000 after acquiring an additional 117,794 shares during the period. The Manufacturers Life Insurance Company bought a new position in UL Solutions during the third quarter worth $278,000. Finally, FMR LLC increased its position in UL Solutions by 6.9% during the third quarter. FMR LLC now owns 3,565,238 shares of the company’s stock worth $175,766,000 after acquiring an additional 230,886 shares during the period.

Insider Transactions at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction 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. This represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions Trading Up 1.5 %

Shares of UL Solutions stock opened at $53.19 on Wednesday. The firm has a market capitalization of $10.65 billion and a PE ratio of 32.83. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company’s fifty day moving average price is $53.07 and its two-hundred day moving average price is $51.89. UL Solutions Inc. has a 52-week low of $33.15 and a 52-week high of $59.23.

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

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.98%. UL Solutions’s dividend payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Citigroup boosted their target price on shares of UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group boosted their target price on shares of UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.