Picton Mahoney Asset Management Boosts Stake in UL Solutions Inc. (NYSE:ULS)

Picton Mahoney Asset Management raised its position in UL Solutions Inc. (NYSE:ULS) by 18.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 114,721 shares of the company’s stock after purchasing an additional 18,019 shares during the period. Picton Mahoney Asset Management’s holdings in UL Solutions were worth $5,722,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the last quarter. FMR LLC increased its stake in shares of UL Solutions by 6.9% during the 3rd 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 last quarter. Soros Fund Management LLC increased its stake in shares of UL Solutions by 127.4% during the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock worth $56,058,000 after purchasing an additional 637,077 shares during the last quarter. Zimmer Partners LP increased its stake in shares of UL Solutions by 136.7% during the 3rd quarter. Zimmer Partners LP now owns 710,000 shares of the company’s stock worth $35,003,000 after purchasing an additional 410,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in UL Solutions by 133.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 700,000 shares of the company’s stock worth $34,510,000 after buying an additional 400,000 shares during the period.

Analysts Set New Price Targets

Several research firms recently commented on ULS. The Goldman Sachs Group raised their price objective on shares of UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised 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. Finally, Citigroup raised their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and an average target price of $51.45.

Insider Transactions at UL Solutions

In related news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the transaction, the executive vice president now owns 9,285 shares in the company, valued at $492,105. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

UL Solutions Stock Up 3.4 %

Shares of NYSE:ULS opened at $52.33 on Friday. The firm has a fifty day moving average price of $52.94 and a two-hundred day moving average price of $51.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23. The company has a market cap of $10.47 billion and a price-to-earnings ratio of 32.30.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. Analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The business 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 an increase from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, February 28th. UL Solutions’s payout ratio is currently 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.