Geode Capital Management LLC Has $101.17 Million Stock Holdings in UL Solutions Inc. $ULS

Geode Capital Management LLC raised its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 21.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,282,676 shares of the company’s stock after acquiring an additional 230,660 shares during the period. Geode Capital Management LLC owned approximately 0.64% of UL Solutions worth $101,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in shares of UL Solutions by 18.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock valued at $61,000 after acquiring an additional 133 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of UL Solutions by 4.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,541 shares of the company’s stock valued at $251,000 after acquiring an additional 145 shares during the last quarter. Advisor OS LLC raised its position in shares of UL Solutions by 4.4% during the 4th quarter. Advisor OS LLC now owns 3,477 shares of the company’s stock valued at $274,000 after acquiring an additional 147 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of UL Solutions by 4.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after acquiring an additional 159 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of UL Solutions by 11.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,521 shares of the company’s stock valued at $179,000 after acquiring an additional 256 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have commented on ULS shares. Bank of America upped their target price on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Zacks Research upgraded shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. UBS Group boosted their price objective on shares of UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on shares of UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup boosted their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, UL Solutions has an average rating of “Moderate Buy” and a consensus target price of $101.54.

UL Solutions Price Performance

ULS opened at $96.80 on Friday. The stock has a market cap of $19.51 billion, a P/E ratio of 56.61, a P/E/G ratio of 3.77 and a beta of 0.63. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $93.40 and a 200 day simple moving average of $84.39. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54.

UL Solutions (NYSE:ULS) last released its quarterly 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. The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.UL Solutions’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, research analysts expect that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Friday, May 29th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. UL Solutions’s dividend payout ratio (DPR) is currently 33.92%.

Insiders Place Their Bets

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the sale, the chief executive officer owned 188,274 shares of the company’s stock, valued at $17,240,250.18. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Friedrich Hecker sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $102.04, for a total value of $408,160.00. Following the sale, the director directly owned 13,180 shares in the company, valued at approximately $1,344,887.20. This represents a 23.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 64,980 shares of company stock worth $6,217,938. 1.20% of the stock is owned by company insiders.

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.