KLP Kapitalforvaltning AS Takes $604,000 Position in UL Solutions Inc. (NYSE:ULS)

KLP Kapitalforvaltning AS bought a new stake in UL Solutions Inc. (NYSE:ULS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,100 shares of the company’s stock, valued at approximately $604,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of UL Solutions in the third quarter valued at about $2,086,000. Renaissance Capital LLC raised its holdings in UL Solutions by 108.5% in the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock valued at $4,370,000 after acquiring an additional 45,595 shares during the period. JPMorgan Chase & Co. lifted its position in UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after acquiring an additional 1,022,851 shares during the last quarter. Maven Securities LTD bought a new stake in shares of UL Solutions during the third quarter worth approximately $4,930,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of UL Solutions by 52.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company’s stock valued at $16,895,000 after purchasing an additional 117,794 shares during the last quarter.

Insiders Place Their Bets

In related news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction 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 sale, the executive vice president now 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 filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

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

UL Solutions Price Performance

Shares of ULS opened at $57.10 on Thursday. The firm’s 50-day simple moving average is $53.95 and its two-hundred day simple moving average is $52.25. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The stock has a market cap of $11.43 billion and a PE ratio of 35.25. 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 (NYSE:ULS) last posted its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $726.54 million. 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. Investors of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 0.91%. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is currently 32.10%.

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.