UL Solutions Inc. (NYSE:ULS) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 56.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 644,800 shares of the company’s stock after acquiring an additional 231,800 shares during the quarter. Federated Hermes Inc. owned about 0.32% of UL Solutions worth $32,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ULS. Russell Investments Group Ltd. increased its position in shares of UL Solutions by 1,062.7% during the 4th quarter. Russell Investments Group Ltd. now owns 40,694 shares of the company’s stock worth $2,030,000 after purchasing an additional 37,194 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of UL Solutions by 22.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 168,985 shares of the company’s stock valued at $8,429,000 after acquiring an additional 31,270 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of UL Solutions in the 4th quarter valued at approximately $332,000. Wells Fargo & Company MN lifted its holdings in shares of UL Solutions by 3.1% in the 4th quarter. Wells Fargo & Company MN now owns 225,874 shares of the company’s stock worth $11,267,000 after acquiring an additional 6,727 shares during the last quarter. Finally, ExodusPoint Capital Management LP boosted its position in shares of UL Solutions by 39.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 21,553 shares of the company’s stock worth $1,075,000 after purchasing an additional 6,107 shares during the period.

Insider Transactions at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction that occurred 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 directly owns 9,285 shares in the company, valued at $492,105. This represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

UL Solutions Stock Down 1.2 %

Shares of NYSE:ULS opened at $53.74 on Tuesday. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The firm’s 50 day moving average price is $54.07 and its 200 day moving average price is $52.40. 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 stock has a market cap of $10.76 billion and a price-to-earnings ratio of 33.17.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is presently 32.10%.

Analyst Ratings Changes

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

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.