Fifth Third Bancorp Raises Stock Position in UL Solutions Inc. $ULS

Fifth Third Bancorp raised its position in UL Solutions Inc. (NYSE:ULS) by 26,166.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 158,384 shares of the company’s stock after acquiring an additional 157,781 shares during the period. Fifth Third Bancorp’s holdings in UL Solutions were worth $13,575,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares during the period. Rhumbline Advisers purchased a new stake in UL Solutions in the first quarter valued at $49,000. CIBC Private Wealth Group LLC raised its position in UL Solutions by 112.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after purchasing an additional 479 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of UL Solutions by 60.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $109,000 after purchasing an additional 519 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of UL Solutions by 253.9% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $113,000 after purchasing an additional 1,145 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Gitte Schjotz sold 12,015 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the sale, the insider directly owned 69,206 shares of the company’s stock, valued at $6,900,530.26. This represents a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alberto Uggetti sold 6,100 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was 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 approximately $1,030,700. This trade represents a 37.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 65,705 shares of company stock valued at $6,460,300. 1.20% of the stock is owned by company insiders.

UL Solutions Price Performance

ULS opened at $87.39 on Wednesday. The stock’s 50-day moving average price is $96.64 and its 200 day moving average price is $86.60. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm has a market cap of $17.61 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 3.41 and a beta of 0.63.

UL Solutions (NYSE:ULS) last announced its earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. As a group, sell-side analysts expect that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Announces Dividend

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

Analyst Ratings Changes

ULS has been the subject of a number of recent analyst reports. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a research report on Wednesday, May 6th. Zacks Research lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, UBS Group upgraded shares of UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.54.

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.