State of Alaska Department of Revenue Invests $589,000 in UL Solutions Inc. $ULS

State of Alaska Department of Revenue purchased a new position in UL Solutions Inc. (NYSE:ULS) in the fourth quarter, Holdings Channel reports. The fund purchased 7,480 shares of the company’s stock, valued at approximately $589,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in UL Solutions by 119.5% during the first quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock valued at $8,090,000 after buying an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of UL Solutions by 104.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $25,953,000 after acquiring an additional 234,913 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of UL Solutions by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock valued at $6,981,000 after acquiring an additional 13,205 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of UL Solutions in the 1st quarter valued at approximately $49,000. Finally, Creative Planning acquired a new stake in shares of UL Solutions during the 2nd quarter valued at approximately $208,000.

Insider Buying and Selling at UL Solutions

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

Wall Street Analyst Weigh In

ULS has been the topic of several research analyst reports. Bank of America raised their price objective on UL Solutions to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Citigroup lowered their target price on shares of UL Solutions from $88.10 to $87.80 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. UBS Group increased their target price on shares of UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Robert W. Baird reduced their price target on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Finally, Weiss Ratings lowered shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.42.

UL Solutions Trading Down 0.4%

NYSE:ULS opened at $89.54 on Friday. UL Solutions Inc. has a 12-month low of $55.38 and a 12-month high of $94.04. The firm has a market capitalization of $18.00 billion, a P/E ratio of 56.31, a P/E/G ratio of 3.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50 day simple moving average of $83.60 and a 200 day simple moving average of $80.61.

UL Solutions (NYSE:ULS) last issued its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.07. The firm had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. Equities research analysts predict that UL Solutions Inc. will post 2.02 EPS for the current year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were given 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 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, March 2nd. UL Solutions’s payout ratio is currently 36.48%.

UL Solutions Profile

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.