Bessemer Group Inc. Raises Stock Holdings in UL Solutions Inc. $ULS

by · The Markets Daily

Bessemer Group Inc. grew its position in UL Solutions Inc. (NYSE:ULS – Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,265,772 shares of the company’s stock after acquiring an additional 44,103 shares during the quarter. Bessemer Group Inc.’s holdings in UL Solutions were worth $194,199,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares during the last quarter. Rhumbline Advisers acquired a new position in UL Solutions in the first quarter valued at $49,000. CIBC Private Wealth Group LLC increased its stake 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. raised its holdings in shares of UL Solutions by 60.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $109,000 after buying an additional 519 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of UL Solutions during the fourth quarter worth about $115,000.

Insider Transactions at UL Solutions

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total value of $1,240,250.00. Following the completion of the transaction, the chief executive officer directly owned 164,224 shares of the company’s stock, valued at $16,294,305.28. This trade represents a 7.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Karen K. Pepping sold 725 shares of UL Solutions stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value of $70,861.50. Following the transaction, the chief accounting officer directly owned 8,082 shares of the company’s stock, valued at approximately $789,934.68. This represents a 8.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 65,705 shares of company stock valued at $6,460,300. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ULS has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. UBS Group raised UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.54.

View Our Latest Stock Report on UL Solutions

UL Solutions Price Performance

Shares of ULS opened at $89.77 on Friday. 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 stock’s 50 day moving average is $96.10 and its two-hundred day moving average is $86.73. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54. The firm has a market capitalization of $18.09 billion, a PE ratio of 52.50, a P/E/G ratio of 3.41 and a beta of 0.63.

UL Solutions (NYSE:ULS – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. During the same period in the previous year, the business earned $0.37 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Research analysts anticipate that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Dividend Announcement

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

About UL Solutions

(Free Report)

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.

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