Retirement Systems of Alabama Buys Shares of 134,817 UL Solutions Inc. $ULS

Retirement Systems of Alabama bought a new position in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 134,817 shares of the company’s stock, valued at approximately $10,632,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC acquired a new position in shares of UL Solutions during the 3rd quarter valued at about $1,681,000. Envestnet Asset Management Inc. grew its holdings in UL Solutions by 405.7% in the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock valued at $42,054,000 after purchasing an additional 476,121 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in UL Solutions during the third quarter worth approximately $97,803,000. Voya Investment Management LLC purchased a new position in UL Solutions during the third quarter worth approximately $24,627,000. Finally, Rakuten Investment Management Inc. purchased a new position in UL Solutions during the third quarter worth approximately $1,436,000.

Insiders Place Their Bets

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $85.50, for a total transaction of $1,068,750.00. Following the transaction, the chief executive officer owned 200,774 shares of the company’s stock, valued at approximately $17,166,177. This trade represents a 5.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.

UL Solutions Stock Up 0.1%

ULS stock opened at $84.65 on Friday. The stock has a market cap of $17.02 billion, a PE ratio of 53.24, a price-to-earnings-growth ratio of 3.47 and a beta of 0.77. The firm’s 50-day simple moving average is $79.01 and its 200 day simple moving average is $78.80. UL Solutions Inc. has a fifty-two week low of $49.93 and a fifty-two week high of $91.95. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The company had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $782.37 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were paid a dividend of $0.145 per share. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, March 2nd. UL Solutions’s dividend payout ratio (DPR) is presently 36.48%.

Analyst Ratings Changes

A number of analysts have recently commented on ULS shares. UBS Group upped their price objective on UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Citigroup lowered their price target on UL Solutions from $88.10 to $87.80 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. JPMorgan Chase & Co. upped their price target on UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.60.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.