Burkehill Global Management LP Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Burkehill Global Management LP acquired a new position in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 500,000 shares of the company’s stock, valued at approximately $24,940,000. UL Solutions accounts for approximately 2.4% of Burkehill Global Management LP’s portfolio, making the stock its 9th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in ULS. JPMorgan Chase & Co. lifted its holdings in UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the last quarter. FMR LLC lifted its holdings in shares of UL Solutions by 6.9% during the third quarter. FMR LLC now owns 3,565,238 shares of the company’s stock worth $175,766,000 after buying an additional 230,886 shares in the last quarter. Soros Fund Management LLC lifted its holdings in shares of UL Solutions by 127.4% during the third quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock worth $56,058,000 after buying an additional 637,077 shares in the last quarter. Zimmer Partners LP boosted its position in shares of UL Solutions by 136.7% in the third quarter. Zimmer Partners LP now owns 710,000 shares of the company’s stock valued at $35,003,000 after acquiring an additional 410,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of UL Solutions by 133.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 700,000 shares of the company’s stock valued at $34,510,000 after acquiring an additional 400,000 shares in the last quarter.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on ULS shares. Citigroup lifted their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, UL Solutions has an average rating of “Moderate Buy” and a consensus price target of $51.45.

UL Solutions Trading Up 0.5 %

Shares of ULS stock opened at $50.59 on Thursday. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The stock’s fifty day moving average price is $52.86 and its two-hundred day moving average price is $51.98. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $10.13 billion and a PE ratio of 31.23.

UL Solutions (NYSE:ULS) last released its quarterly earnings data 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 business had revenue of $739.00 million for 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%. Equities analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal 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 issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 1.03%. UL Solutions’s payout ratio is 32.10%.

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.