Sei Investments Co. Acquires 27,165 Shares of UL Solutions Inc. $ULS

Sei Investments Co. raised its stake in shares of UL Solutions Inc. (NYSE:ULS) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,076 shares of the company’s stock after buying an additional 27,165 shares during the quarter. Sei Investments Co.’s holdings in UL Solutions were worth $17,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in UL Solutions by 174.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,791 shares of the company’s stock valued at $325,000 after acquiring an additional 2,408 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of UL Solutions by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 315,935 shares of the company’s stock valued at $27,073,000 after purchasing an additional 5,258 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. KBC Group NV grew its position in shares of UL Solutions by 45.3% during the first quarter. KBC Group NV now owns 2,444 shares of the company’s stock valued at $209,000 after purchasing an additional 762 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of UL Solutions by 3.0% during the first quarter. Swiss National Bank now owns 152,800 shares of the company’s stock valued at $13,096,000 after purchasing an additional 4,500 shares in the last quarter.

Insider Activity

In other news, insider Gitte Schjotz sold 12,015 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the transaction, the insider owned 69,206 shares of the company’s stock, valued at approximately $6,900,530.26. The trade was a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Karen K. Pepping sold 725 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total value of $70,861.50. Following the sale, the chief accounting officer owned 8,082 shares in the company, valued at $789,934.68. The trade was a 8.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 65,705 shares of company stock worth $6,460,300. Company insiders own 1.20% of the company’s stock.

UL Solutions Stock Up 0.4%

Shares of NYSE:ULS opened at $92.04 on Thursday. The company has a market cap of $18.55 billion, a price-to-earnings ratio of 53.83, a PEG ratio of 3.52 and a beta of 0.63. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. 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 company has a 50-day moving average price of $94.03 and a 200 day moving average price of $87.13.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $748.50 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities research analysts predict that UL Solutions Inc. will post 2.13 earnings per share for the current year.

UL Solutions Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on ULS. JPMorgan Chase & Co. boosted their target price on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. UBS Group upgraded UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, July 14th. Citigroup lifted their price objective on UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Company upped their price objective on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $115.00 target price on shares of UL Solutions in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.54.

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.