Illinois Municipal Retirement Fund Buys 15,716 Shares of UL Solutions Inc. $ULS

Illinois Municipal Retirement Fund raised its stake in shares of UL Solutions Inc. (NYSE:ULS) by 75.7% during the 1st quarter, HoldingsChannel reports. The firm owned 36,464 shares of the company’s stock after purchasing an additional 15,716 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in UL Solutions were worth $3,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ULS. Northwestern Mutual Wealth Management Co. lifted its stake in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after buying an additional 614 shares during the last quarter. Rhumbline Advisers acquired a new position in UL Solutions in the 1st quarter valued at $49,000. CIBC Private Wealth Group LLC grew its stake in UL Solutions by 112.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after buying an additional 479 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in UL Solutions by 60.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock worth $109,000 after acquiring an additional 519 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in UL Solutions in the 4th quarter worth $115,000.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $87.77 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54. The firm has a fifty day moving average price of $95.84 and a two-hundred day moving average price of $86.78. The company has a market cap of $17.69 billion, a PE ratio of 51.33, a price-to-earnings-growth ratio of 3.41 and a beta of 0.63.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. Analysts expect that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is 33.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup upped their price target on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wells Fargo & Company lifted their price objective on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. UBS Group raised UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, July 14th. Raymond James Financial restated an “outperform” rating and set a $115.00 target price on shares of UL Solutions in a research note on Wednesday, May 6th. Finally, BNP Paribas Exane initiated coverage on UL Solutions in a report on Monday, April 20th. They issued a “neutral” rating and a $95.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

Insider Activity

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the transaction, the chief executive officer directly owned 164,224 shares in the company, valued at $16,294,305.28. The trade was a 7.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gitte Schjotz sold 12,015 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total value of $1,198,015.65. Following the completion of the transaction, the insider directly owned 69,206 shares of the company’s stock, valued at approximately $6,900,530.26. This trade represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 65,705 shares of company stock valued at $6,460,300. Corporate insiders own 1.20% of the company’s stock.

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.