Mendel Money Management Increases Stake in UL Solutions Inc. (NYSE:ULS)

Mendel Money Management boosted its stake in shares of UL Solutions Inc. (NYSE:ULS) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,162 shares of the company’s stock after purchasing an additional 3,047 shares during the period. Mendel Money Management’s holdings in UL Solutions were worth $2,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stone House Investment Management LLC acquired a new position in shares of UL Solutions in the third quarter valued at about $25,000. PNC Financial Services Group Inc. boosted its position in UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock valued at $33,000 after buying an additional 582 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in UL Solutions in the 3rd quarter worth approximately $84,000. KBC Group NV acquired a new stake in UL Solutions during the 4th quarter valued at approximately $163,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of UL Solutions in the 4th quarter valued at $201,000.

Analyst Ratings Changes

ULS has been the subject of a number of research reports. Citigroup boosted their target price on shares of UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price objective on UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group raised their target price on UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.45.

UL Solutions Stock Up 1.7 %

Shares of NYSE ULS opened at $54.70 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $53.47 and a 200 day moving average of $51.96. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. The stock has a market cap of $10.95 billion and a PE ratio of 33.77.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. As a group, sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions’s dividend payout ratio (DPR) is presently 32.10%.

Insiders Place Their Bets

In related news, EVP Alberto Uggetti sold 1,938 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $492,105. This represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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.