Legal & General Group Plc Grows Stake in UL Solutions Inc. $ULS

Legal & General Group Plc grew its holdings in UL Solutions Inc. (NYSE:ULS) by 78.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 103,331 shares of the company’s stock after buying an additional 45,467 shares during the quarter. Legal & General Group Plc’s holdings in UL Solutions were worth $8,149,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Jefferies Financial Group Inc. raised its position in shares of UL Solutions by 543.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 192,915 shares of the company’s stock worth $15,213,000 after acquiring an additional 162,915 shares in the last quarter. Jag Capital Management LLC increased its holdings in shares of UL Solutions by 10.9% in the 4th quarter. Jag Capital Management LLC now owns 9,115 shares of the company’s stock worth $719,000 after purchasing an additional 899 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 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 purchasing an additional 519 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of UL Solutions in the 4th quarter worth $238,000. Finally, Gabelli Funds LLC lifted its position in UL Solutions by 0.5% during the fourth quarter. Gabelli Funds LLC now owns 124,400 shares of the company’s stock valued at $9,810,000 after purchasing an additional 600 shares in the last quarter.

UL Solutions Stock Performance

Shares of ULS opened at $96.80 on Friday. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The stock has a fifty day moving average price of $93.40 and a 200-day moving average price of $84.39. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm has a market cap of $19.51 billion, a PE ratio of 56.61, a P/E/G ratio of 3.86 and a beta of 0.63.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating 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 prior year, the business posted $0.37 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Friday, May 29th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.

Insider Transactions at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 12,015 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Friedrich Hecker sold 4,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $102.04, for a total value of $408,160.00. Following the sale, the director directly owned 13,180 shares in the company, valued at $1,344,887.20. This represents a 23.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,980 shares of company stock valued at $6,217,938 in the last quarter. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of recent analyst reports. 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, May 7th. Robert W. Baird reduced their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. UBS Group upped their target price on UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.54.

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.