Arrow Capital Management LLC Takes Position in UL Solutions Inc. $ULS

Arrow Capital Management LLC acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, HoldingsChannel reports. The fund acquired 73,206 shares of the company’s stock, valued at approximately $5,773,000. UL Solutions makes up about 3.4% of Arrow Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of UL Solutions by 119.5% in the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after purchasing an additional 78,081 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of UL Solutions by 104.3% during the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock valued at $25,953,000 after acquiring an additional 234,913 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in UL Solutions by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock worth $6,981,000 after purchasing an additional 13,205 shares in the last quarter. Rhumbline Advisers bought a new stake in UL Solutions during the first quarter worth approximately $49,000. Finally, Creative Planning acquired a new stake in UL Solutions in the second quarter worth approximately $208,000.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, Director Friedrich Hecker sold 4,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $102.04, for a total transaction of $408,160.00. Following the sale, the director directly owned 13,180 shares of the company’s stock, valued at $1,344,887.20. The trade was a 23.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Karen K. Pepping sold 725 shares of UL Solutions stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total value of $70,861.50. Following the transaction, the chief accounting officer owned 8,082 shares in the company, valued at $789,934.68. This represents a 8.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,705 shares of company stock valued at $6,288,800 over the last three months. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Telsey Advisory Group set a $100.00 price target on UL Solutions in a research note on Wednesday, May 6th. UBS Group upped their price objective on UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company raised their target price on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.54.

UL Solutions Trading Down 3.0%

Shares of NYSE ULS opened at $91.27 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 53.38, a P/E/G ratio of 3.66 and a beta of 0.63. The business has a fifty day simple moving average of $95.64 and a 200-day simple moving average of $84.90.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts predict that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio (DPR) is 33.92%.

UL Solutions Company Profile

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.