JPMorgan Chase & Co. Sells 1,443,794 Shares of UL Solutions Inc. $ULS

JPMorgan Chase & Co. trimmed its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 51.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,376,122 shares of the company’s stock after selling 1,443,794 shares during the quarter. JPMorgan Chase & Co. owned about 0.69% of UL Solutions worth $97,512,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ULS. Allspring Global Investments Holdings LLC acquired a new stake in UL Solutions during the third quarter worth approximately $97,803,000. Norges Bank bought a new stake in shares of UL Solutions during the 2nd quarter valued at $89,174,000. Capital International Investors grew its holdings in shares of UL Solutions by 10.8% during the 3rd quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock worth $534,738,000 after purchasing an additional 738,720 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of UL Solutions by 20.6% during the 3rd quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock worth $279,394,000 after purchasing an additional 674,088 shares in the last quarter. Finally, Electron Capital Partners LLC bought a new position in shares of UL Solutions in the second quarter worth $45,558,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ULS. JPMorgan Chase & Co. increased their price objective on shares of UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. UBS Group boosted their target price on shares of UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Robert W. Baird reduced their price target on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Weiss Ratings cut shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Finally, Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.60.

UL Solutions Price Performance

ULS stock opened at $85.82 on Wednesday. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 53.98, a P/E/G ratio of 3.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The company has a 50 day simple moving average of $77.13 and a 200 day simple moving average of $77.19. UL Solutions Inc. has a 1 year low of $49.93 and a 1 year high of $91.95.

UL Solutions (NYSE:ULS) last posted its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The firm had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $782.37 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.145 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions’s payout ratio is 36.48%.

UL Solutions Profile

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.