UL Solutions Inc. $ULS Shares Sold by Candriam S.C.A.

Candriam S.C.A. reduced its stake in UL Solutions Inc. (NYSE:ULS) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,223 shares of the company’s stock after selling 894 shares during the period. Candriam S.C.A.’s holdings in UL Solutions were worth $3,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its holdings in UL Solutions by 7.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company’s stock worth $255,513,000 after purchasing an additional 305,658 shares during the period. JPMorgan Chase & Co. grew its position in shares of UL Solutions by 1.9% during the first quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company’s stock worth $252,333,000 after buying an additional 82,261 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of UL Solutions by 32.2% during the second quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock worth $137,689,000 after buying an additional 460,394 shares during the period. Conestoga Capital Advisors LLC raised its holdings in UL Solutions by 64.6% in the second quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock valued at $85,193,000 after acquiring an additional 458,972 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in UL Solutions in the first quarter worth approximately $57,999,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group increased their target price on UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $84.00 price target (up from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. Wells Fargo & Company upped their price objective on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of UL Solutions in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.71.

UL Solutions Stock Up 1.7%

UL Solutions stock opened at $86.83 on Friday. The company has a market capitalization of $17.44 billion, a P/E ratio of 51.99 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. UL Solutions Inc. has a fifty-two week low of $48.54 and a fifty-two week high of $91.95. The stock has a 50-day simple moving average of $75.16 and a 200-day simple moving average of $71.19.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The firm had revenue of $783.00 million for the quarter, compared to the consensus estimate of $769.01 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 28th. UL Solutions’s payout ratio is presently 31.14%.

About UL Solutions

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.