JPMorgan Chase & Co. Decreases Position in UL Solutions Inc. $ULS

JPMorgan Chase & Co. reduced its position in shares of UL Solutions Inc. (NYSE:ULS) by 51.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,376,122 shares of the company’s stock after selling 1,443,794 shares during the period. JPMorgan Chase & Co. owned about 0.69% of UL Solutions worth $97,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in UL Solutions by 48.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after buying an additional 171 shares in the last quarter. Assetmark Inc. purchased a new position in UL Solutions in the third quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. grew its stake in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares in the last quarter. Rhumbline Advisers purchased a new stake in UL Solutions during the 1st quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. increased its holdings in UL Solutions by 28.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock worth $53,000 after purchasing an additional 161 shares during the last quarter.

Analyst Ratings Changes

ULS has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a report on Friday. Bank of America raised their price objective on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Finally, Robert W. Baird reduced their price target on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.50.

UL Solutions Stock Down 2.5%

Shares of NYSE:ULS opened at $78.17 on Tuesday. The company’s fifty day moving average is $76.08 and its two-hundred day moving average is $75.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a 1-year low of $49.34 and a 1-year high of $91.95. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 4.45 and a beta of 1.12.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be given a $0.145 dividend. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, March 2nd. UL Solutions’s dividend payout ratio is 32.70%.

About UL Solutions

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.