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

Mendel Money Management raised its holdings in UL Solutions Inc. (NYSE:ULS) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,162 shares of the company’s stock after acquiring an additional 3,047 shares during the quarter. Mendel Money Management’s holdings in UL Solutions were worth $2,402,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ULS. JPMorgan Chase & Co. grew its stake 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 in the last quarter. Soros Fund Management LLC raised its position in shares of UL Solutions by 127.4% during the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock worth $56,058,000 after acquiring an additional 637,077 shares in the last quarter. Port Capital LLC acquired a new position in UL Solutions in the third quarter valued at approximately $25,675,000. Burkehill Global Management LP purchased a new position in UL Solutions in the fourth quarter valued at approximately $24,940,000. Finally, Zimmer Partners LP raised its holdings in UL Solutions by 136.7% during the third quarter. Zimmer Partners LP now owns 710,000 shares of the company’s stock worth $35,003,000 after purchasing an additional 410,000 shares in the last quarter.

UL Solutions Price Performance

ULS stock opened at $54.70 on Wednesday. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. The company has a market cap of $10.95 billion and a price-to-earnings ratio of 33.77. The firm has a 50 day moving average of $53.47 and a 200-day moving average of $51.96. 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 (NYSE:ULS) last announced its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The company had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. As a group, equities analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity at UL Solutions

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

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.