Voloridge Investment Management LLC Invests $14.38 Million in UL Solutions Inc. (NYSE:ULS)

Voloridge Investment Management LLC bought a new position in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 288,327 shares of the company’s stock, valued at approximately $14,382,000. Voloridge Investment Management LLC owned about 0.14% of UL Solutions as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after acquiring an additional 1,022,851 shares during the period. AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of UL Solutions by 20.7% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 235,501 shares of the company’s stock valued at $11,726,000 after purchasing an additional 40,396 shares in the last quarter. KBC Group NV acquired a new stake in UL Solutions during the fourth quarter worth approximately $163,000. Renaissance Capital LLC grew its stake in UL Solutions by 108.5% during the fourth quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock worth $4,370,000 after purchasing an additional 45,595 shares during the period. Finally, Entropy Technologies LP bought a new stake in UL Solutions in the fourth quarter worth approximately $1,202,000.

UL Solutions Trading Up 1.0%

Shares of UL Solutions stock opened at $71.70 on Friday. The company’s 50-day moving average price is $60.03 and its 200-day moving average price is $54.98. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a 12-month low of $37.87 and a 12-month high of $72.81. The company has a market cap of $14.35 billion and a price-to-earnings ratio of 44.26.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $704.19 million. The firm’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, May 30th. UL Solutions’s dividend payout ratio (DPR) is presently 31.14%.

Insiders Place Their Bets

In related news, EVP Alberto Uggetti sold 1,961 shares of UL Solutions stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president now owns 9,285 shares in the company, valued at $649,950. This trade represents a 17.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gitte Schjotz sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the sale, the insider now directly owns 46,889 shares of the company’s stock, valued at $3,162,194.16. This represents a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,899 shares of company stock valued at $712,064. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on ULS shares. JPMorgan Chase & Co. raised their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Citigroup restated a “neutral” rating and issued a $71.00 price target (up from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Robert W. Baird upped their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, Raymond James boosted their target price on UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.43.

About UL Solutions

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.