Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of UL Solutions Inc. (NYSE:ULS) by 130.8% in the fourth quarter, HoldingsChannel reports. The fund owned 17,438 shares of the company’s stock after acquiring an additional 9,884 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in UL Solutions were worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of UL Solutions by 377.1% during the third quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock valued at $1,161,000 after buying an additional 18,606 shares during the last quarter. Swiss National Bank bought a new stake in UL Solutions in the third quarter worth about $5,576,000. Charles Schwab Investment Management Inc. boosted its holdings in UL Solutions by 52.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company’s stock valued at $16,895,000 after acquiring an additional 117,794 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of UL Solutions during the third quarter valued at $278,000. Finally, FMR LLC grew its stake in UL Solutions by 6.9% in the 3rd quarter. FMR LLC now owns 3,565,238 shares of the company’s stock worth $175,766,000 after acquiring an additional 230,886 shares in the last quarter.

UL Solutions Stock Down 0.2 %

Shares of ULS stock opened at $53.67 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The stock has a market cap of $10.74 billion and a P/E ratio of 33.13. The stock has a 50 day moving average of $53.24 and a 200 day moving average of $51.91. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $59.23.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm had revenue of $739.00 million during the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. As a group, sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, February 28th. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Citigroup raised their price objective on UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group upped their price target on shares of UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.45.

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the firm’s stock in a transaction dated 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 directly owns 9,285 shares of the company’s stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

UL Solutions 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.