JPMorgan Chase & Co. Sells 124,651 Shares of UL Solutions Inc. (NYSE:ULS)

JPMorgan Chase & Co. decreased its holdings in UL Solutions Inc. (NYSE:ULS) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,391,729 shares of the company’s stock after selling 124,651 shares during the period. JPMorgan Chase & Co. owned approximately 2.19% of UL Solutions worth $219,059,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its holdings in UL Solutions by 653.9% during the 4th 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. bought a new stake in shares of UL Solutions in the 3rd quarter worth approximately $84,000. KBC Group NV purchased a new position in shares of UL Solutions during the fourth quarter valued at approximately $163,000. Signature Estate & Investment Advisors LLC bought a new position in shares of UL Solutions during the fourth quarter valued at approximately $201,000. Finally, Sanctuary Advisors LLC purchased a new stake in UL Solutions in the fourth quarter worth $221,000.

Wall Street Analyst Weigh In

Several research analysts have commented on ULS shares. Citigroup upped their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a report on Tuesday, February 25th. 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 report on Friday, February 21st. Finally, The Goldman Sachs Group upped 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and an average target price of $51.45.

Insider Activity at UL Solutions

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

UL Solutions Price Performance

Shares of NYSE ULS opened at $56.42 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The company has a 50 day simple moving average of $53.79 and a two-hundred day simple moving average of $52.16. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The company has a market capitalization of $11.29 billion and a price-to-earnings ratio of 34.83.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. Analysts expect 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 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 is 32.10%.

UL Solutions Company Profile

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.