23,797 Shares in UL Solutions Inc. $ULS Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System bought a new position in UL Solutions Inc. (NYSE:ULS) during the 4th quarter, Holdings Channel reports. The institutional investor bought 23,797 shares of the company’s stock, valued at approximately $1,877,000.

Other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. bought a new position in shares of UL Solutions in the third quarter worth $40,000. Northwestern Mutual Wealth Management Co. boosted its stake in UL Solutions by 3,070.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers bought a new stake in UL Solutions during the first quarter valued at $49,000. PNC Financial Services Group Inc. grew its position in UL Solutions by 18.2% during the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock worth $61,000 after buying an additional 133 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in UL Solutions by 3,720.6% during the third quarter. Farther Finance Advisors LLC now owns 1,299 shares of the company’s stock worth $92,000 after buying an additional 1,265 shares in the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on ULS. Citigroup raised their price target on UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday. Telsey Advisory Group set a $100.00 target price on shares of UL Solutions in a research note on Wednesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

UL Solutions Trading Up 1.1%

NYSE ULS opened at $100.47 on Friday. The stock’s 50-day simple moving average is $86.62 and its two-hundred day simple moving average is $81.81. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54. The company has a quick ratio of 1.32, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $20.20 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 4.02 and a beta of 0.59.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results 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. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $748.50 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. Research analysts forecast that UL Solutions Inc. will post 2.02 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were issued a dividend of $0.145 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s payout ratio is 33.92%.

Insiders Place Their Bets

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $91.57, for a total value of $1,144,625.00. Following the completion of the sale, the chief executive officer owned 188,274 shares in the company, valued at $17,240,250.18. The trade was a 6.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.

UL Solutions Company 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.