LGT Fund Management Co Ltd. Reduces Holdings in UL Solutions Inc. $ULS

LGT Fund Management Co Ltd. cut its position in UL Solutions Inc. (NYSE:ULS) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,300 shares of the company’s stock after selling 6,700 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in UL Solutions were worth $5,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ghisallo Capital Management LLC increased its stake in UL Solutions by 1,299.3% during the 4th quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company’s stock worth $110,347,000 after buying an additional 1,299,273 shares during the period. Vanguard Group Inc. increased its position in shares of UL Solutions by 21.9% during the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after acquiring an additional 1,213,188 shares during the last quarter. State Street Corp increased its position in shares of UL Solutions by 272.1% during the fourth quarter. State Street Corp now owns 1,460,723 shares of the company’s stock worth $115,193,000 after acquiring an additional 1,068,194 shares during the last quarter. Norges Bank acquired a new position in shares of UL Solutions in the fourth quarter worth about $72,719,000. Finally, Alyeska Investment Group L.P. purchased a new position in UL Solutions in the fourth quarter valued at about $69,002,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Company upped their target price on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. UBS Group increased their target price on UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of UL Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, BNP Paribas Exane started coverage on shares of UL Solutions in a research note on Monday, April 20th. They issued a “neutral” rating and a $95.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $101.54.

Insider Activity at UL Solutions

In related news, EVP Alberto Uggetti sold 6,100 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $100.00, for a total transaction of $610,000.00. Following the sale, the executive vice president owned 10,307 shares in the company, valued at $1,030,700. This represents a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the completion of the transaction, the chief executive officer directly owned 164,224 shares in the company, valued at $16,294,305.28. This represents a 7.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,705 shares of company stock valued at $6,460,300 in the last ninety days. 1.20% of the stock is owned by insiders.

UL Solutions Stock Up 0.9%

UL Solutions stock traded up $0.75 during midday trading on Friday, hitting $87.26. The stock had a trading volume of 655,456 shares, compared to its average volume of 1,355,648. The business has a fifty day moving average price of $97.04 and a 200 day moving average price of $86.41. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The stock has a market cap of $17.59 billion, a P/E ratio of 51.03, a P/E/G ratio of 3.40 and a beta of 0.63. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULS) last released its earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. During the same quarter last year, the business posted $0.37 EPS. UL Solutions’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts predict that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were paid a dividend of $0.145 per share. The ex-dividend date was Friday, May 29th. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s payout ratio is presently 33.92%.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.