Waratah Capital Advisors Ltd. Sells 105,527 Shares of UL Solutions Inc. $ULS

Waratah Capital Advisors Ltd. reduced its stake in UL Solutions Inc. (NYSE:ULS) by 59.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,972 shares of the company’s stock after selling 105,527 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in UL Solutions were worth $5,244,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in UL Solutions by 7.2% in 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 acquiring an additional 305,658 shares during the period. JPMorgan Chase & Co. increased its stake in shares of UL Solutions by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company’s stock worth $252,333,000 after purchasing an additional 82,261 shares during the period. Bessemer Group Inc. increased its stake in shares of UL Solutions by 32.2% in the second quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock worth $137,689,000 after purchasing an additional 460,394 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of UL Solutions by 64.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock worth $85,193,000 after purchasing an additional 458,972 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in UL Solutions during the 1st quarter valued at approximately $57,999,000.

Wall Street Analyst Weigh In

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

UL Solutions Stock Performance

NYSE:ULS opened at $86.83 on Friday. The firm has a market capitalization of $17.44 billion, a PE ratio of 51.99 and a beta of 1.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. UL Solutions Inc. has a 12-month low of $48.54 and a 12-month high of $91.95. The firm has a 50-day moving average price of $75.16 and a 200 day moving average price of $71.19.

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

UL Solutions Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.6%. UL Solutions’s dividend payout ratio is presently 31.14%.

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.