30,578 Shares in UL Solutions Inc. (NYSE:ULS) Purchased by AIA Group Ltd

AIA Group Ltd bought a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,578 shares of the company’s stock, valued at approximately $1,525,000.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in UL Solutions by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock valued at $278,016,000 after acquiring an additional 401,492 shares during the period. JPMorgan Chase & Co. lifted its position in shares of UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the last quarter. FMR LLC boosted its stake in shares of UL Solutions by 6.9% during the third quarter. FMR LLC now owns 3,565,238 shares of the company’s stock valued at $175,766,000 after purchasing an additional 230,886 shares during the period. Norges Bank bought a new position in shares of UL Solutions in the fourth quarter worth about $173,869,000. Finally, Soros Fund Management LLC increased its stake in UL Solutions by 127.4% in the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock worth $56,058,000 after buying an additional 637,077 shares during the period.

Insiders Place Their Bets

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares of the company’s stock, valued at approximately $492,105. This trade represents a 17.27 % 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 the SEC website.

UL Solutions Trading Up 1.3 %

Shares of NYSE:ULS opened at $56.42 on Tuesday. The company has a market capitalization of $11.29 billion and a PE ratio of 34.83. 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 $33.15 and a 12-month high of $59.23. The business’s fifty day simple moving average is $53.79 and its 200-day simple moving average is $52.16.

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

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.92%. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 28th. UL Solutions’s dividend payout ratio (DPR) is 32.10%.

Analysts Set New Price Targets

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

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.