Charles Schwab Investment Management Inc. Acquires 22,617 Shares of UL Solutions Inc. (NYSE:ULS)

Charles Schwab Investment Management Inc. boosted its holdings in UL Solutions Inc. (NYSE:ULS) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365,324 shares of the company’s stock after purchasing an additional 22,617 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.18% of UL Solutions worth $18,222,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Versor Investments LP bought a new stake in UL Solutions in the fourth quarter worth $376,000. Bank of New York Mellon Corp raised its stake in shares of UL Solutions by 532.9% during the fourth quarter. Bank of New York Mellon Corp now owns 142,632 shares of the company’s stock valued at $7,114,000 after acquiring an additional 120,097 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of UL Solutions during the fourth quarter valued at about $221,000. Legato Capital Management LLC raised its stake in shares of UL Solutions by 40.0% during the fourth quarter. Legato Capital Management LLC now owns 13,695 shares of the company’s stock valued at $683,000 after acquiring an additional 3,910 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of UL Solutions during the fourth quarter valued at about $1,202,000.

UL Solutions Price Performance

Shares of ULS opened at $53.69 on Thursday. The stock has a market cap of $10.75 billion and a PE ratio of 33.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The firm’s 50-day simple moving average is $53.15 and its two-hundred day simple moving average is $51.90.

UL Solutions (NYSE:ULS) last issued its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.11. The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. Analysts anticipate 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. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is currently 32.10%.

Insider Activity at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

ULS has been the subject of several recent analyst reports. Citigroup upped 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 boosted their price target on shares of UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of UL Solutions from $55.00 to $58.00 and gave the company an “overweight” 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 stock. According to MarketBeat, UL Solutions currently 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.