UL Solutions Inc. $ULS Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in UL Solutions Inc. (NYSE:ULS) by 51.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,376,122 shares of the company’s stock after selling 1,443,794 shares during the quarter. JPMorgan Chase & Co.’s holdings in UL Solutions were worth $97,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ULS. PNC Financial Services Group Inc. increased its stake in shares of UL Solutions by 18.2% in the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock valued at $61,000 after purchasing an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in UL Solutions by 4.3% in 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 period. Cresset Asset Management LLC raised its stake in 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 in the last quarter. Sheets Smith Wealth Management raised its stake in UL Solutions by 3.6% during the 3rd quarter. Sheets Smith Wealth Management now owns 4,674 shares of the company’s stock valued at $331,000 after acquiring an additional 164 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after acquiring an additional 171 shares during the period.

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a report on Friday. Robert W. Baird decreased their target price on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research note on Friday. UBS Group upped their price target on shares of UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Bank of America raised their price objective on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.50.

UL Solutions Price Performance

Shares of NYSE ULS opened at $78.17 on Tuesday. UL Solutions Inc. has a twelve month low of $49.34 and a twelve month high of $91.95. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $76.08 and a two-hundred day moving average of $75.26. The company has a market capitalization of $15.70 billion, a price-to-earnings ratio of 49.16, a PEG ratio of 4.45 and a beta of 1.12.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The company had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $782.37 million. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be issued a $0.145 dividend. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, March 2nd. UL Solutions’s dividend payout ratio is currently 32.70%.

UL Solutions Profile

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.