Geode Capital Management LLC Increases Stock Position in UL Solutions Inc. (NYSE:ULS)

Geode Capital Management LLC grew its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 55.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 600,936 shares of the company’s stock after buying an additional 213,635 shares during the period. Geode Capital Management LLC’s holdings in UL Solutions were worth $29,639,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of UL Solutions in the third quarter worth $2,086,000. Victory Capital Management Inc. raised its position in shares of UL Solutions by 377.1% in the 3rd quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock worth $1,161,000 after purchasing an additional 18,606 shares during the last quarter. Renaissance Technologies LLC bought a new position in UL Solutions in the 2nd quarter worth about $3,536,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in UL Solutions during the 3rd quarter valued at about $9,615,000. Finally, Federated Hermes Inc. bought a new stake in UL Solutions during the 2nd quarter valued at about $13,636,000.

Insider Activity at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 5,941 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $52.58, for a total transaction of $312,377.78. Following the completion of the transaction, the insider now directly owns 69,191 shares of the company’s stock, valued at approximately $3,638,062.78. This trade represents a 7.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ULS shares. Robert W. Baird upped their price objective on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup started coverage on UL Solutions in a report on Monday, October 7th. They issued a “buy” rating and a $60.00 price objective for the company. UBS Group upped their target price on shares of UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company raised their price target on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.00.

UL Solutions Trading Up 0.5 %

NYSE:ULS opened at $51.12 on Friday. The firm has a 50-day simple moving average of $52.10 and a 200-day simple moving average of $49.29. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The company had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that UL Solutions Inc. will post 1.53 earnings per share for the current year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Friday, November 29th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, November 29th.

About UL Solutions

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.