PNC Financial Services Group Inc. Increases Stock Position in UL Solutions Inc. (NYSE:ULS)

PNC Financial Services Group Inc. grew its position in shares of UL Solutions Inc. (NYSE:ULS) by 653.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 671 shares of the company’s stock after purchasing an additional 582 shares during the period. PNC Financial Services Group Inc.’s holdings in UL Solutions were worth $33,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ULS. Northwest & Ethical Investments L.P. bought a new position in UL Solutions during the third quarter valued at $84,000. KBC Group NV bought a new position in shares of UL Solutions in the 4th quarter valued at about $163,000. Sanctuary Advisors LLC purchased a new position in UL Solutions in the fourth quarter worth about $221,000. The Manufacturers Life Insurance Company bought a new stake in UL Solutions during the third quarter worth approximately $278,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in UL Solutions during the third quarter valued at approximately $372,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Citigroup increased their target price 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. Finally, JPMorgan Chase & Co. lifted 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.45.

UL Solutions Trading Up 1.2 %

Shares of ULS stock opened at $55.54 on Friday. UL Solutions Inc. has a 1-year low of $33.15 and a 1-year high of $59.23. The firm has a market cap of $11.12 billion and a PE ratio of 34.29. The company has a 50-day moving average of $53.62 and a two-hundred day moving average of $52.00. 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 (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. On average, analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. UL Solutions’s payout ratio is 32.10%.

Insider Transactions 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 transaction of $102,714.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

UL Solutions Company 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.