JPMorgan Chase & Co. Has $97.51 Million Stake in UL Solutions Inc. $ULS

JPMorgan Chase & Co. reduced its stake in shares of UL Solutions Inc. (NYSE:ULS) by 51.2% in 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 period. JPMorgan Chase & Co.’s holdings in UL Solutions were worth $97,512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in UL Solutions during the 3rd quarter valued at approximately $97,803,000. Norges Bank acquired a new stake in shares of UL Solutions during the second quarter worth $89,174,000. Capital International Investors raised its stake in UL Solutions by 10.8% during the third quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock worth $534,738,000 after buying an additional 738,720 shares during the last quarter. Capital Research Global Investors raised its stake in UL Solutions by 20.6% during the third quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock worth $279,394,000 after buying an additional 674,088 shares during the last quarter. Finally, Electron Capital Partners LLC acquired a new position in UL Solutions in the second quarter valued at $45,558,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Friday, February 20th. Robert W. Baird reduced their price target on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Weiss Ratings downgraded shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Bank of America upped their price objective on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Citigroup cut their price objective on shares of UL Solutions from $88.10 to $87.80 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $87.60.

UL Solutions Price Performance

ULS stock opened at $85.82 on Wednesday. The company has a market capitalization of $17.25 billion, a P/E ratio of 53.98, a price-to-earnings-growth ratio of 3.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a 52-week low of $49.93 and a 52-week high of $91.95. The business has a 50-day simple moving average of $77.13 and a two-hundred day simple moving average of $77.19.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. Research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio (DPR) is currently 36.48%.

UL Solutions Company 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.