DekaBank Deutsche Girozentrale Takes $52.40 Million Position in UL Solutions Inc. $ULS

DekaBank Deutsche Girozentrale purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 756,505 shares of the company’s stock, valued at approximately $52,396,000.

Several other hedge funds and other institutional investors have also modified their holdings of ULS. Conestoga Capital Advisors LLC lifted its position in UL Solutions by 64.6% during the second quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock valued at $85,193,000 after buying an additional 458,972 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of UL Solutions during the second quarter valued at about $32,124,000. Cannon Global Investment Management LLC purchased a new stake in UL Solutions during the 2nd quarter worth approximately $437,000. Twin Tree Management LP bought a new stake in shares of UL Solutions in the second quarter worth $296,000. Finally, AEGON ASSET MANAGEMENT UK Plc raised its stake in shares of UL Solutions by 55.7% in the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 427,171 shares of the company’s stock valued at $31,090,000 after purchasing an additional 152,788 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ULS. UBS Group raised their price objective on UL Solutions from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.57.

UL Solutions Trading Down 0.5%

Shares of NYSE ULS opened at $76.26 on Wednesday. UL Solutions Inc. has a 12 month low of $48.54 and a 12 month high of $79.05. The business has a fifty day simple moving average of $68.70 and a 200-day simple moving average of $67.69. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 47.07 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $771.55 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. UL Solutions’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 29th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 29th. UL Solutions’s dividend payout ratio (DPR) is currently 32.10%.

UL Solutions 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.