Signature Estate & Investment Advisors LLC Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Signature Estate & Investment Advisors LLC acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,022 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock worth $33,000 after purchasing an additional 582 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in UL Solutions during the 3rd quarter worth about $84,000. KBC Group NV purchased a new stake in UL Solutions during the fourth quarter valued at about $163,000. Sanctuary Advisors LLC acquired a new position in shares of UL Solutions in the fourth quarter worth about $221,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of UL Solutions in the third quarter worth approximately $278,000.

Analysts Set New Price Targets

Several brokerages recently commented on ULS. Citigroup upped their price target on shares of UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group increased their target price 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 target 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.45.

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 1,938 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $492,105. The trade was a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions Stock Performance

ULS stock opened at $55.54 on Friday. The company has a market capitalization of $11.12 billion and a price-to-earnings ratio of 34.29. The firm has a 50 day moving average of $53.62 and a two-hundred day moving average of $52.00. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a 12 month low of $33.15 and a 12 month high of $59.23.

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

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions’s payout ratio is 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.