3,485,746 Shares in UL Solutions Inc. (NYSE:ULS) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,485,746 shares of the company’s stock, valued at approximately $173,869,000.

A number of other institutional investors also recently modified their holdings of ULS. Charles Schwab Investment Management Inc. grew its stake in UL Solutions by 52.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company’s stock valued at $16,895,000 after buying an additional 117,794 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of UL Solutions in the third quarter valued at about $278,000. FMR LLC increased its stake in shares of UL Solutions by 6.9% in the third quarter. FMR LLC now owns 3,565,238 shares of the company’s stock worth $175,766,000 after purchasing an additional 230,886 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of UL Solutions during the 3rd quarter worth about $3,723,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in UL Solutions during the 3rd quarter valued at approximately $372,000.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at $492,105. This trade represents a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

ULS has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price target on UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Citigroup upped their target price on shares of UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.45.

UL Solutions Price Performance

UL Solutions stock opened at $55.70 on Monday. The business has a 50 day simple moving average of $53.70 and a 200 day simple moving average of $52.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $11.15 billion and a PE ratio of 34.38. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23.

UL Solutions (NYSE:ULS) last issued its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. The company had revenue of $739.00 million for the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, sell-side analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.93%. UL Solutions’s dividend payout ratio (DPR) is presently 32.10%.

UL Solutions Company 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.