Burkehill Global Management LP Acquires New Holdings in UL Solutions Inc. (NYSE:ULS)

Burkehill Global Management LP bought a new position in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 500,000 shares of the company’s stock, valued at approximately $24,940,000. UL Solutions makes up 2.4% of Burkehill Global Management LP’s investment portfolio, making the stock its 9th biggest holding. Burkehill Global Management LP owned 0.25% of UL Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ULS. Victory Capital Management Inc. increased its position in shares of UL Solutions by 377.1% during the third quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock worth $1,161,000 after acquiring an additional 18,606 shares in the last quarter. Swiss National Bank bought a new position in UL Solutions during the 3rd quarter worth about $5,576,000. Drive Wealth Management LLC acquired a new stake in shares of UL Solutions in the 3rd quarter valued at about $296,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of UL Solutions by 52.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company’s stock valued at $16,895,000 after purchasing an additional 117,794 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of UL Solutions during the third quarter worth about $278,000.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total transaction of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at approximately $492,105. The trade was a 17.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of recent research reports. Citigroup lifted their target price on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their price objective on shares of UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.45.

UL Solutions Price Performance

NYSE:ULS opened at $50.59 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $52.86 and a 200 day simple moving average of $51.98. UL Solutions Inc. has a 1-year low of $33.15 and a 1-year high of $59.23. The stock has a market capitalization of $10.13 billion and a PE ratio of 31.23.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.11. The company had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.03%. UL Solutions’s dividend payout ratio is currently 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.