Catalyst Funds Management Pty Ltd Takes $226,000 Position in UL Solutions Inc. $ULS

Catalyst Funds Management Pty Ltd bought a new position in shares of UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,100 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently added to or reduced their stakes in ULS. Victory Capital Management Inc. raised its position in UL Solutions by 169.6% during the first quarter. Victory Capital Management Inc. now owns 84,558 shares of the company’s stock worth $4,769,000 after acquiring an additional 53,195 shares during the period. Allianz Asset Management GmbH purchased a new position in UL Solutions in the 1st quarter valued at about $9,010,000. Y Intercept Hong Kong Ltd acquired a new stake in UL Solutions in the 1st quarter worth about $451,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in UL Solutions during the 1st quarter worth approximately $723,000. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of UL Solutions by 39.7% during the first quarter. KLP Kapitalforvaltning AS now owns 16,900 shares of the company’s stock valued at $953,000 after acquiring an additional 4,800 shares during the last quarter.

UL Solutions Stock Down 0.4%

Shares of NYSE ULS opened at $85.46 on Friday. The company has a market capitalization of $17.17 billion, a P/E ratio of 51.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The company has a 50 day simple moving average of $77.18 and a 200-day simple moving average of $72.06. UL Solutions Inc. has a 1 year low of $48.54 and a 1 year high of $91.95.

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

UL Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

ULS has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of UL Solutions in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. UBS Group increased their target price 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 raised their price target on shares of UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $84.00 price objective (up previously from $70.00) on shares of UL Solutions in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $81.71.

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.