Pictet Asset Management Holding SA Buys 220,700 Shares of UL Solutions Inc. $ULS

Pictet Asset Management Holding SA increased its stake in shares of UL Solutions Inc. (NYSE:ULS) by 24.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,136,171 shares of the company’s stock after purchasing an additional 220,700 shares during the quarter. Pictet Asset Management Holding SA’s holdings in UL Solutions were worth $74,536,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its stake in shares of UL Solutions by 38.4% in the 3rd quarter. Alps Advisors Inc. now owns 8,350 shares of the company’s stock valued at $548,000 after purchasing an additional 2,318 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of UL Solutions during the third quarter worth approximately $782,000. Covestor Ltd bought a new stake in shares of UL Solutions during the third quarter worth approximately $34,000. Ascent Group LLC lifted its holdings in UL Solutions by 7.2% in the third quarter. Ascent Group LLC now owns 10,638 shares of the company’s stock valued at $698,000 after buying an additional 713 shares during the period. Finally, Vise Technologies Inc. lifted its holdings in UL Solutions by 130.0% in the third quarter. Vise Technologies Inc. now owns 5,257 shares of the company’s stock valued at $345,000 after buying an additional 2,971 shares during the period.

Insider Transactions at UL Solutions

In other UL Solutions news, CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $75.03, for a total value of $937,875.00. Following the sale, the chief executive officer owned 114,224 shares of the company’s stock, valued at $8,570,226.72. This trade represents a 9.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 37,500 shares of company stock worth $2,734,625. 1.20% of the stock is currently owned by corporate insiders.

UL Solutions Stock Performance

Shares of ULS opened at $81.19 on Tuesday. The firm has a market cap of $16.39 billion, a P/E ratio of 32.34, a PEG ratio of 3.31 and a beta of 0.62. UL Solutions Inc. has a twelve month low of $63.17 and a twelve month high of $107.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.42 and a current ratio of 2.09. The firm’s 50 day moving average price is $71.15 and its two-hundred day moving average price is $82.57.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. UL Solutions had a net margin of 16.07% and a return on equity of 26.65%. The company had revenue of $823.00 million during the quarter, compared to the consensus estimate of $815.72 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that UL Solutions Inc. will post 2.09 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 31st were issued a dividend of $0.1450 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, August 31st. UL Solutions’s dividend payout ratio is 23.11%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ULS shares. Weiss Ratings cut shares of UL Solutions from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. UBS Group increased their price target on UL Solutions from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Robert W. Baird reduced their price target on UL Solutions from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. The Goldman Sachs Group set a $86.00 price target on UL Solutions in a research report on Wednesday, August 5th. Finally, Citigroup decreased their price objective on UL Solutions from $82.80 to $81.40 and set a “neutral” rating for the company in a research note on Wednesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, UL Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $95.84.

UL Solutions Company Profile

UL Solutions Inc provides testing, inspection, certification, software and advisory services focused on product safety, performance and sustainability. Its work helps companies assess products and processes against technical standards and regulatory requirements.

The company serves manufacturers and other organizations across industries and geographies. Its services include product testing and certification, cybersecurity and supply-chain assessments, and software and consulting tools for managing compliance and sustainability efforts.

UL Solutions traces its history to Underwriters’ Electrical Bureau, founded in 1894 by engineer William Henry Merrill.