Strs Ohio Increases Stake in UL Solutions Inc. $ULS

Strs Ohio increased its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,900 shares of the company’s stock after buying an additional 13,900 shares during the period. Strs Ohio’s holdings in UL Solutions were worth $5,020,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ULS. Teacher Retirement System of Texas purchased a new stake in UL Solutions during the 1st quarter worth approximately $555,000. Bank of New York Mellon Corp increased its stake in UL Solutions by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 146,832 shares of the company’s stock worth $8,281,000 after buying an additional 4,200 shares during the period. Envestnet Asset Management Inc. increased its stake in UL Solutions by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 174,224 shares of the company’s stock worth $9,826,000 after buying an additional 5,239 shares during the period. Victory Capital Management Inc. increased its position in shares of UL Solutions by 169.6% in the 1st quarter. Victory Capital Management Inc. now owns 84,558 shares of the company’s stock valued at $4,769,000 after purchasing an additional 53,195 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of UL Solutions in the 1st quarter valued at $9,010,000.

UL Solutions Trading Down 0.7%

NYSE ULS opened at $77.78 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s fifty day moving average price is $70.69 and its 200 day moving average price is $69.23. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 48.01 and a beta of 1.05. UL Solutions Inc. has a 12 month low of $48.54 and a 12 month high of $81.84.

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

UL Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

ULS has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. UBS Group raised their price objective on shares of UL Solutions from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.57.

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.