Concurrent Investment Advisors LLC Takes Position in UL Solutions Inc. $ULS

Concurrent Investment Advisors LLC purchased a new stake in UL Solutions Inc. (NYSE:ULS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,801 shares of the company’s stock, valued at approximately $457,000.

Several other institutional investors have also modified their holdings of ULS. TD Private Client Wealth LLC purchased a new stake in UL Solutions during the third quarter worth $1,681,000. Allspring Global Investments Holdings LLC raised its position in shares of UL Solutions by 12.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock valued at $125,484,000 after buying an additional 167,564 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of UL Solutions by 405.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after purchasing an additional 476,121 shares during the period. Rakuten Investment Management Inc. acquired a new stake in UL Solutions in the 3rd quarter worth about $1,436,000. Finally, Truist Financial Corp boosted its position in shares of UL Solutions by 1,981.8% in the third quarter. Truist Financial Corp now owns 68,469 shares of the company’s stock worth $4,852,000 after acquiring an additional 65,180 shares during the last quarter.

Insider Transactions at UL Solutions

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $91.57, for a total value of $1,144,625.00. Following the sale, the chief executive officer directly owned 188,274 shares in the company, valued at approximately $17,240,250.18. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

ULS has been the subject of a number of research reports. Zacks Research raised UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their target price on UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research report on Friday, February 20th. Finally, Citigroup decreased their price objective on shares of UL Solutions from $88.10 to $87.80 and set a “neutral” rating for the company in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.42.

UL Solutions Stock Down 1.8%

ULS opened at $89.93 on Tuesday. The stock has a market cap of $18.08 billion, a P/E ratio of 56.56, a P/E/G ratio of 3.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. UL Solutions Inc. has a 12 month low of $59.40 and a 12 month high of $94.04. The stock’s 50 day moving average price is $85.22 and its 200 day moving average price is $81.24.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share 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 business had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts predict that UL Solutions Inc. will post 2.02 earnings per share for the current year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were given a dividend of $0.145 per share. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, March 2nd. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. UL Solutions’s payout ratio is 36.48%.

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.