3,485,746 Shares in UL Solutions Inc. (NYSE:ULS) Acquired by Norges Bank

Norges Bank bought a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,485,746 shares of the company’s stock, valued at approximately $173,869,000. Norges Bank owned approximately 1.74% of UL Solutions at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in UL Solutions by 653.9% in 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 shares of UL Solutions in the 3rd quarter worth approximately $84,000. KBC Group NV bought a new position in shares of UL Solutions in the fourth quarter valued at approximately $163,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of UL Solutions during the fourth quarter valued at approximately $201,000. Finally, Sanctuary Advisors LLC bought a new stake in UL Solutions during the fourth quarter worth approximately $221,000.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $55.70 on Monday. The company’s fifty day moving average is $53.70 and its two-hundred day moving average is $52.10. The company has a market cap of $11.15 billion and a P/E ratio of 34.38. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. 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 (NYSE:ULS) last posted its quarterly earnings results 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. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. Equities analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 0.93%. UL Solutions’s payout ratio is presently 32.10%.

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the company’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 transaction, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at approximately $492,105. This represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ULS. JPMorgan Chase & Co. increased their price target on UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their price objective on shares of UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, Citigroup increased their target price on shares of UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.