Arizona State Retirement System Has $896,000 Position in UL Solutions Inc. (NYSE:ULS)

Arizona State Retirement System raised its stake in shares of UL Solutions Inc. (NYSE:ULS) by 64.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,958 shares of the company’s stock after buying an additional 7,040 shares during the quarter. Arizona State Retirement System’s holdings in UL Solutions were worth $896,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of UL Solutions by 33.2% during the 4th quarter. Victory Capital Management Inc. now owns 31,363 shares of the company’s stock valued at $1,564,000 after purchasing an additional 7,823 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of UL Solutions by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 365,324 shares of the company’s stock valued at $18,222,000 after purchasing an additional 22,617 shares in the last quarter. Versor Investments LP bought a new position in shares of UL Solutions during the 4th quarter valued at about $376,000. Bank of New York Mellon Corp lifted its holdings in shares of UL Solutions by 532.9% during the 4th quarter. Bank of New York Mellon Corp now owns 142,632 shares of the company’s stock valued at $7,114,000 after purchasing an additional 120,097 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of UL Solutions during the 4th quarter valued at about $221,000.

Insider Transactions at UL Solutions

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a report on Tuesday, February 25th. The Goldman Sachs Group lifted their price objective on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price objective on UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UL Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $51.45.

UL Solutions Trading Down 0.3 %

Shares of UL Solutions stock opened at $50.50 on Friday. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. The stock has a market cap of $10.11 billion and a P/E ratio of 31.17. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $52.88 and its 200-day moving average is $51.97.

UL Solutions (NYSE:ULS) last announced 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 return on equity of 44.52% and a net margin of 11.36%. The company had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $726.54 million. Equities research analysts predict that UL Solutions Inc. will post 1.69 earnings per share 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 paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is currently 32.10%.

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.