Louisiana State Employees Retirement System Makes New Investment in UL Solutions Inc. $ULS

Louisiana State Employees Retirement System purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) during the 1st quarter, HoldingsChannel reports. The firm purchased 22,400 shares of the company’s stock, valued at approximately $1,920,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tranquility Partners LLC acquired a new stake in shares of UL Solutions in the 1st quarter valued at $279,000. Andina Capital Management LLC acquired a new position in UL Solutions during the first quarter worth $417,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in UL Solutions during the first quarter valued at about $1,896,000. Pacer Advisors Inc. bought a new position in UL Solutions during the fourth quarter valued at about $715,000. Finally, Arrow Capital Management LLC acquired a new stake in shares of UL Solutions in the fourth quarter worth about $5,773,000.

UL Solutions Trading Up 1.8%

Shares of ULS stock opened at $101.83 on Wednesday. The firm has a market capitalization of $20.52 billion, a P/E ratio of 59.55, a price-to-earnings-growth ratio of 3.89 and a beta of 0.63. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The firm’s fifty day simple moving average is $96.84 and its 200 day simple moving average is $85.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $758.00 million during 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. As a group, sell-side analysts predict that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Announces Dividend

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

Wall Street Analyst Weigh In

ULS has been the subject of several recent analyst reports. UBS Group upped their price target on UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen raised UL Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Raymond James Financial restated an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. Citigroup upped their target price on UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Telsey Advisory Group set a $100.00 price target on UL Solutions in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.54.

Insiders Place Their Bets

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the company’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 transaction, the chief executive officer owned 188,274 shares of the company’s stock, valued at $17,240,250.18. This represents a 6.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alberto Uggetti sold 6,100 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president owned 10,307 shares of the company’s stock, valued at $1,030,700. This represents a 37.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,205 shares of company stock valued at $5,220,050 in the last quarter. 1.20% of the stock is currently owned by insiders.

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.